What’s so stupid about lending money to Greece?
Greek government bonds are yielding around 17%, which is a very good rate.
And you know that these bonds are back by the full faith and credit of the GERMAN government.
Seems like a win/win to me.
The market is telling you that there is a 1 in 6 chance of default. But don't let that stop you from buying.
the Germans can only be pushed so far. They may very well return back to the DM