Greece strikes back: says Germany still owes them money FROM WWII.
55 replies, posted
[url]http://www.thelocal.de/national/20120911-44893.html[/url]
[quote]Striken with debt, Greece has said in [B]recent years that it reserves the right to claim reparations worth several billion euros, saying it was forced to accept unfavourable terms during negotiations in the 1950s.[/B]
"The matter remains pending," said Deputy Finance Minister Christos Staikouras on Monday. "Greece has never resigned its rights."
Nonetheless, he called for a "realistic and cool-headed" approach to the prickly issue, which could further sour relations between Germany and Greece.
The four-member working group is expected to submit its report by the end of the year, the ministry said in a statement.
Many in Greece blame Germany for the tough austerity measures currently being enforced as it tries to climb out from under its debt mountain.
Greece has been given international credit lifelines – first for €110 billion in May 2010 and then for €130 billion earlier this year, plus a €107 billion private debt write-off.
Germany is the biggest single donor to Greece's bailout packages.[/quote]
lol nice try greece
good luck getting them.
I'd hardly call demanding reparations from the 1940s "realistic and cool-headed".
You know a country has shitty politicians when they get almost half a trillion dollars in bailouts and their economy gets worse
[QUOTE=DrBreen;37633329]You know a country has shitty politicians when they get almost half a trillion dollars in bailouts and their economy gets worse[/QUOTE]
True dat, now look at americas debt :V
[QUOTE=smfE;37633443]True dat, now look at americas debt :V[/QUOTE]
america didn't get "bailed out" by another nation really.
Oh come on, Germany's been the most active in trying to help and bail out Greece, and they pull this?
[QUOTE=trotskygrad;37633458]america didn't get "bailed out" by another nation really.[/QUOTE]
China
Just ask Turkey for 800 years worth of compensation.
[QUOTE=Ericson666;37633556]China[/QUOTE]
wow really
do I have to explain the difference between "accepting debt" and "bailing out"
I'm perfectly aware China holds most of our debt but they in no way "bailed us out" of the recession. In fact they accepted our debt before that.
gibe moni or i repot
Well that's a low blow, even to a country that still feels guilty about the second world war.
Greece may be leaving the Euro real soon now.
[QUOTE=trotskygrad;37633582]wow really
do I have to explain the difference between "accepting debt" and "bailing out"
I'm perfectly aware China holds most of our debt but they in no way "bailed us out" of the recession. In fact they accepted our debt before that.[/QUOTE]
China only holds like 5% of your debt. A lot of it is held locally, a lot with European banks to be honest.
[quote]
In total, China owns about 8 percent of publicly held U.S. debt. Of all the holders of U.S. debt China is the third-largest, behind only the [URL="http://usgovinfo.about.com/cs/socialsecurity/a/aassgone.htm"]Social Security Trust Fund[/URL]'s holdings of nearly $3 trillion and the [URL="http://usgovinfo.about.com/od/moneymatters/a/fedreserve.htm"]Federal Reserve[/URL]'s nearly $2 trillion holdings in Treasury investments, purchased as part of its [URL="http://useconomy.about.com/od/glossary/g/Quantitative-Easing.htm"]quantitative easing[/URL] program to boost the economy.
[/quote]
In contrast, the Federal reserve holds almost a third of the US debt. The rest is split up between other parties, with China being one of the larger ones.
I never understood why americans believe that China holds the majority of youro debt.
Remember what happened last time someone demanded war reparations from Germany!?
[QUOTE=wraithcat;37633765]China only holds like 5% of your debt. A lot of it is held locally, a lot with European banks to be honest.[/QUOTE]
when we're talking about debt in this context it almost always means foreign debt, and it is currently the largest.
sauce: [url]http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt[/url]
Oh look, its this again.
[QUOTE=Used Car Salesman;37633772]Remember what happened last time someone demanded war reparations from Germany!?[/QUOTE]
WWIII right here right now.
Germany called, it wants it's money back, and it's tanks are on the border.
[QUOTE=Selek;37633534]Oh come on, Germany's been the most active in trying to help and bail out Greece, and they pull this?[/QUOTE]
Just what I was about to say. Germany seemed to me like the only country that still wanted to help Greece and keep them in EU.
[QUOTE=trotskygrad;37633458]america didn't get "bailed out" by another nation really.[/QUOTE]
China.
[QUOTE=DentalDoctor;37634032]China.[/QUOTE]
it keeps happening!!!
[QUOTE=DentalDoctor;37634032]China.[/QUOTE]
[QUOTE=trotskygrad;37633582]wow really
do I have to explain the difference between "accepting debt" and "bailing out"
I'm perfectly aware China holds most of our debt but they in no way "bailed us out" of the recession. In fact they accepted our debt before that.[/QUOTE]
I thought this was old news. I thought Greece has already been demanding money from Germany.
No.
[QUOTE=Ericson666;37633556]China[/QUOTE]
Americans own most of America's debt, China owns like 7%
[QUOTE=borisvdb;37634118]I thought this was old news. I thought Greece has already been demanding money from Germany.[/QUOTE]
not as "war crimes reparations"
[QUOTE=DrBreen;37633329]You know a country has shitty politicians when they get almost half a trillion dollars in bailouts and their economy gets worse[/QUOTE]
Even worse when they get most of that money from Germany, and then demands more money.
[QUOTE=The mouse;37633565]Just ask Turkey for 800 years worth of compensation.[/QUOTE]
I refuse to give it. :v:
[QUOTE=DrBreen;37633329]You know a country has shitty politicians when they get almost half a trillion dollars in bailouts and their economy gets worse[/QUOTE]
+ IMF austerity measures that are counter-productive (ask one Paul Krugman or Joseph Stiglitz) + boiling political and social scene + people without jobs that can't feed their families + the Euro finally showing its inherent and critical flaws since the bubble burst.
[QUOTE=trotskygrad;37633582]wow really
do I have to explain the difference between "accepting debt" and "bailing out"
I'm perfectly aware China holds most of our debt but they in no way "bailed us out" of the recession. In fact they accepted our debt before that.[/QUOTE]
Well, you could in fact make an argument that the twisted trade relationship between China and US actually contributed to the subprime crisis. As China keeps exporting goods to the US and keeps the Yuan undervalued, America essentially "exported" inflation to China. This screwed up Federal Reserve's monetary policy as it targets inflation. So, US keeps injecting liquidity into the economy without incurring any inflation, liquidity goes to specific asset class (real estate), and boom, you have an asset bubble.
Wow, Greece pulling Nazi card, yeah sure that will give you the money.
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