Jesus, Merkel must not understand how the rest of the world is seeing this: Greece folds on austerity; Germany rips Europe apart. Shocking.
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Replying to @slightlylate
@slightlylate In a way, Germany ripped Europe by lending money it needed. Now their banks will default if they don't get it back.2 replies 0 retweets 0 likes -
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Replying to @slightlylate
@slightlylate They wanted to keep the eurozone, and so were ready to lend money with a low probability to get it back. Greece doesn't have…1 reply 0 retweets 0 likes -
Replying to @espadrine
@slightlylate the GDP to reduce its debt, so it was bound to grow forever. That would ensure Germany to not default at the expense of Greece1 reply 0 retweets 0 likes -
Replying to @espadrine
@espadrine : this is backwards. Greek GDP is shrinking *because* of austerity2 replies 0 retweets 0 likes -
Replying to @slightlylate
@slightlylate Exactly. It's a vicious cycle. It's also a catch-22: either Greece suffers, or everyone. I personally favor the latter.2 replies 0 retweets 0 likes -
Replying to @espadrine
@espadrine : this is simply not true. The level of euro-area austerity when borrowing costs are so low is *self defeating*1 reply 0 retweets 0 likes -
Replying to @slightlylate
@slightlylate The latter possibility isn't austerity, it's default. But default is a breach of trust, it makes assumed value disappear.1 reply 0 retweets 0 likes
@espadrine : so to recap: northern europe bailed out it's banks, put Greece in. a depression, and now insists Greece must not "break trust"
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