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This is a symptom of the decadence of capitalism : the insistence that money, in and of itself, is the supreme value, and that good bookkeeping is the road to Nirvana.

This world-view ignores the frequent and massive episodes of debt forgiveness which have occurred at decisive moments.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Thu Nov 24th, 2011 at 07:59:20 AM EST
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But Germany insisted on lenders suffering a partial loss against resistance of other EU members and the ECB. Germany just insists that as far as debts are paid they be paid by the debtors.
by oliver on Sun Nov 27th, 2011 at 11:06:48 AM EST
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Germany is also insisting on not allowing the ECB to function as a central bank.

My sympathy is distinctly limited.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sun Nov 27th, 2011 at 12:01:22 PM EST
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