Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
What is "other countries"? It isn't "other countries" that "extract wealth" from the German taxpayer. It's European (and prominently German) banks. Greece for example saw precious little of the first loan deal money, and is assured not to see any money from the latest deal. It all goes to service unserviceable debt, which should have been repudiated (or generously restructured) in early 2010. That the German government decides to bail-out the banksters claiming that it has to do that because of the "lazy Greeks" or all the other racist stereotypes that a Bild reader can be driven on, is a game a couple of centuries old at least: nationalism and racism in the service of local elite interests. In fact most sane people (Die Linke prominent among them) were against the first loan, on exactly these grounds.

I would be very careful about using the term "steal" in the context of Greco-German relationships. First of all Greece was among the countries that helped German recover in the 1953 debt settlement (without which Germany would never have gotten back on its feet), and also Germany has never repaid back the forced loan that the Nazi occupation forces forced on the Bank of Greece, taking pretty much all of the gold in its treasury. The loot was kept by the FRG without repayment, pending reunification. After reunification it became "old history". This is not about war reparations (a separate matter) but about an actual debt, never repaid but never forgiven also by the Greek state. At this stage of Greco-German relations it is a sure bet that the (quite defendable legally I'm told) loan claims will be put on the table by the successor gvt, especially if it is of the left.

The road of excess leads to the palace of wisdom - William Blake

by talos (mihalis at gmail dot com) on Tue Feb 14th, 2012 at 06:10:44 PM EST
[ Parent ]

Others have rated this comment as follows:


Top Diaries

Occasional Series