- View Single Post - Financial clusterfuck in Europe
View Single Post
post #81 of (permalink) Old 05-05-2010, 04:01 PM
country flag Henry Chinaski
Registered User
Henry Chinaski's Avatar
Join Date: Oct 2006
Posts: 13,751
Re: Credit crisis in Greece, others to follow...?

Originally Posted by JolánGagó View Post
Im not sure the "do nothing" approach would work here. What would happen with the hugely exposed German banks and Germany's huge trade surpluses if Greece and then others are left to bankrupt? Rethorical question.
Nailed it. This is as much of a bailout for the German and French banks as it is for Greece.

People still can't get their head around the simple notion that Germany acts in self-interest in international financial matters just as every other nation does.
Henry Chinaski is offline  
For the best viewing experience please update your browser to Google Chrome