(source: eFXnews, Capital)
Stop picking on us, shut up, and keep the money coming. Sitting on our asses is an integral part of our culture.
that is what loans are, you pay them back with interest
How about Greece just live within its means if it doesn’t like it?
Why shouldn’t they? They are basically keeping much of Europe afloat, though they have plenty of debt themselves. Were it not for Germanys’ actions, 2-3 countries would have detonated by now. It is unfortunate that the people of these nations have to “suffer” for the profligacy of the bureaucrats in their gov’t. And they are indeed suffering, but no government, no entity can spend beyond its means, and if it does, the piper has to be paid. That includes us. We are all quite jaded by these ultra-low interest rates that have been in effect for the past 4 years. Anybody knows that mortgages used to routinely be 6-7-8%. That any entity would lend the US money for ten years at 1.8% (and it WAS 1.4% 2 weeks ago) is stupidity on their part. If the int rate that the US had to pay on its debt rose to more historically normative levels, the US economy would detonate as well.
But Germany didn't have that money just lying around. They had to borrow it from someone which means that they had to pay interest to their own creditors for the privilege of lending it to the Greeks. And I would never use the word "expected" when it comes to the Greeks paying off. "Hoped" is about the best word you can use.
Similary, the Germans will get a return because they loaned a dead-broke money. Perhaps they won't even get that return. Greece is a very risky bet now.