Bratwurst Boy
3 Apr 2020
News / How hard will Poland be hit by the economic crisis? [116]
Then how do you explain the greed for the Euro-membership in these "poor" countries?
I tell you why, a financial union with Germany offers these countries money to the same terms as Germany!
A country like Greece could never dream of getting so easy so much money.....because investors trust Germany. They trust it's government and it's economical policies....that makes new credits cheap. Greece for itself would get fresh money only much harder and much less to much higher interests, because investors don't trust it on it's own at all.
But now, in a financial union with Germany, Greece can borrow to it's hearts content, as the investors know it's being underfunded by Germany.
Hell, before the Euro-membership Greece used still donkeys on their dusty roads! Their main export had been cheap laborers.
Greece had all the possibilites in the world to do something worthwhile with all the money it suddenly got access to...that it ended like it did you can't blame on Germany but on stupid greek governmental decisions...totally democratic of course.
Imagine Berlin balking at that, forcing better, more sound, economical decisions from Athens....can you imagine the outcry? "Nazis" would had been the very least of them!
So, what do you blame Germany for exactly?
tha'ts not a recipe for mutual development at all...
Then how do you explain the greed for the Euro-membership in these "poor" countries?
I tell you why, a financial union with Germany offers these countries money to the same terms as Germany!
A country like Greece could never dream of getting so easy so much money.....because investors trust Germany. They trust it's government and it's economical policies....that makes new credits cheap. Greece for itself would get fresh money only much harder and much less to much higher interests, because investors don't trust it on it's own at all.
But now, in a financial union with Germany, Greece can borrow to it's hearts content, as the investors know it's being underfunded by Germany.
Hell, before the Euro-membership Greece used still donkeys on their dusty roads! Their main export had been cheap laborers.
Greece had all the possibilites in the world to do something worthwhile with all the money it suddenly got access to...that it ended like it did you can't blame on Germany but on stupid greek governmental decisions...totally democratic of course.
Imagine Berlin balking at that, forcing better, more sound, economical decisions from Athens....can you imagine the outcry? "Nazis" would had been the very least of them!
So, what do you blame Germany for exactly?
