This author feels Germany owes Greece some forgiveness on

[deziloooooo]

their debt. He brings up a legitimate point as to morally as well as practically , Germany owes Greece big time.....War debt Germany never paid, though had paid to others...In Greece's case the reply to such demands is along the lines " sorry...to late "

Few countries were devastated as Greece was during the war..both it's population and stolen treasure..


america.aljazeera.com/opinions/2015/2/germany-owes-greece-for-nazi-era-debts.html
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"However, lost in the current debate are Germany’s long-standing debts to Greece, which are 70 years overdue. Greeks have long demanded reparations for atrocities committed during World War II and for an outstanding “war loan” that Nazi Germany took from Greece to finance its military campaign in North Africa. But postwar Germany refused to settle with Greece, as it did with Holland, Israel, France and others. Even a partial payment or some debt write-offs in lieu of reparations could help get Greece’s economy going again. It would also set in motion reconciliation between the two countries whose relations are bristling with acrimony, the roots of which lie farther back than the debt crisis."
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To read rest of article click on link above....

[Shooby]

Grow up and bail out your own country. It isn't someone else's job if you spend yourselves into oblivion .

[djAdvocate]

we should start a thread in the IMF, which is not even 1% of the charitable organization everyone thinks it is.

[deziloooooo]

Well the Greeks and their debtors have been talking but as of now little progress toward a solution to the problem..

I really don't know all the particulers of how Greece got into this situation. It couldn't just be the costs of the Olympics they hosted some years ago..{ They did do a neat job there I thought }...I know many where afraid they were unable to afford those costs..probably correctly but the debt is way beyond those costs...

I know they have been on this austerity plan for five years now thus the revolt of so many Greeks..in a way one can't blame them...young people have no hope for jobs thus leave country..Those working have found salaries  cut in half..or more..or lost jobs altogether...


america.aljazeera.com/articles/2015/2/16/greece-rejects-absurd-eu-bailout-deal.html

What happens if the country actually just declared bankruptcy...started all over again ...debts they owe just write them off the books...What would debtor countries do..Invade them?

You would think  that iit would be best to cut losses...forget earning interest payments on debt and try to get principal that was loaned back over time...and giving a bit of breathing space and hope for the Greek populace along with all that...{ Remember I am not a economist or financial wiz here ...just mentioning some things as a neophyte might that might be a way out of this mess. There is no way with the debt the Greeks have accumulated with all these bridge loans that they will ever be able to retire their debt, IMHO...}

[ChiTownVenture]

Feb 16, 2015 15:58:53 GMT -5 deziloooooo said:

What happens if the country actually just declared bankruptcy...started all over again ...debts they owe just write them off the books...What would debtor countries do..Invade them?

www.ehow.com/about_7512012_happens-country-declares-bankruptcy.html

Bank Runs, Inflation, Lack of Foreign Investors, Civil Unrest.

It's difficult to make purchases in the open world market if you have no credit.  There is also another side to this in that since the Greeks have the same currency as other countries, the inflation is felt by multiple nations. 

[deziloooooo]

Feb 16, 2015 16:54:04 GMT -5 ChiTownVenture said:

Feb 16, 2015 15:58:53 GMT -5 deziloooooo said:

What happens if the country actually just declared bankruptcy...started all over again ...debts they owe just write them off the books...What would debtor countries do..Invade them?

www.ehow.com/about_7512012_happens-country-declares-bankruptcy.html

Bank Runs, Inflation, Lack of Foreign Investors, Civil Unrest.

It's difficult to make purchases in the open world market if you have no credit.  There is also another side to this in that since the Greeks have the same currency as other countries, the inflation is felt by multiple nations. 

I would think that with the amount that Greece owes...and still needs more loans just to keep government operating..with no real hope of ever paying off the debt...Just the interest alone eats up what savings that comes from less social spending..gov't purchasing stoppage... by declaring bankruptcy the loans and interest are no more if I understand the way it works and to be honest..if gov't did look for new loans...with no debt on the books a loan if done correctly might be a safe bet...if one could overlook the possibility of lending to a defaulter...Just a thought..

[ChiTownVenture]

Feb 17, 2015 0:26:16 GMT -5 deziloooooo said:

Feb 16, 2015 16:54:04 GMT -5 ChiTownVenture said:

www.ehow.com/about_7512012_happens-country-declares-bankruptcy.html

Bank Runs, Inflation, Lack of Foreign Investors, Civil Unrest.

It's difficult to make purchases in the open world market if you have no credit.  There is also another side to this in that since the Greeks have the same currency as other countries, the inflation is felt by multiple nations. 

I would think that with the amount that Greece owes...and still needs more loans just to keep government operating..with no real hope of ever paying off the debt...Just the interest alone eats up what savings that comes from less social spending..gov't purchasing stoppage... by declaring bankruptcy the loans and interest are no more if I understand the way it works and to be honest..if gov't did look for new loans...with no debt on the books a loan if done correctly might be a safe bet...if one could overlook the possibility of lending to a defaulter...Just a thought..

Be careful not to apply U.S. Bankruptcy laws to other countries.  Greece is in default of their loans.  It is up to the creditors to decide if they would like to release Greece from the encumbrance. Greece can declare that they refuse to pay back the loans, but then foreign investors will not loan them money.  It seems that their only hope is to come to a settlement with their creditors using foreign investors to settle their debt and then move to return their economy to a solid foundation securing future investments and loans.  The other options are figuring out a way to produce something that the world wants and is willing to pay, or to try and collect on old "debts" as they are doing with Germany.  

[djAdvocate]

for the record, i think WE owe Greece a huge debt of apology for what we did there during the Greek Civil War of 1948.  no amount of money could ever make up for it.

[deziloooooo]

Feb 17, 2015 12:05:35 GMT -5 djAdvocate said:

for the record, i think WE owe Greece a huge debt of apology for what we did there during the Greek Civil War of 1948.  no amount of money could ever make up for it.

Huh...? What we did was stop the Communists...Truman Doctrine, Marshall Plan..Tito's Yugoslave / Albania , Bulgaria..communists , from taking over the 
country..Britain  was broke from the war so we took over...more like special ops of training , not large amounts of boots on the ground..US commander was Admiral Van Fleet I believe..Actually Stalin was not in favor of the take over by Titos communists..Believe the civil war ran for four years...It was first direct conflict between the east and the west..Cold war...


en.wikipedia.org/wiki/Greek_Civil_War

[djAdvocate]

Feb 17, 2015 18:50:40 GMT -5 deziloooooo said:

Feb 17, 2015 12:05:35 GMT -5 djAdvocate said:

for the record, i think WE owe Greece a huge debt of apology for what we did there during the Greek Civil War of 1948.  no amount of money could ever make up for it.

Huh...? What we did was stop the Communists...Truman Doctrine, Marshall Plan..Tito's Yugoslave / Albania , Bulgaria..communists , from taking over the 
country..Britain  was broke from the war so we took over...more like special ops of training , not large amounts of boots on the ground..US commander was Admiral Van Fleet I believe..Actually Stalin was not in favor of the take over by Titos communists..Believe the civil war ran for four years...It was first direct conflict between the east and the west..Cold war...


en.wikipedia.org/wiki/Greek_Civil_War

the monarchist government during the civil war sided with the Nazi's during the war.  the leftist insurgency fought against the Nazi's, and sided with the Alliance.  the US government came in at the end of the war and supported......

the Greek government, of course.

this was the opening salvo in the Cold War, which, needless to say, is probably my least favourite foreign policy posture in US history.  at least this is how i remember it.  correct me if i am wrong.

edit: it might be well to point out that NEITHER the government NOR the resistance was especially fond of Stalin.  indeed, when a coup d'etat happened in 1967, the government that took over was openly anti-communist.

[deziloooooo]

The following is a very good article that explains a lot of the mystery and answers some questions I have posed regarding Greece problems and possible solutions to get it out of the jam it is in..pretty clearly written..Uses the analogy of a similar situation happening in USA..,explaining the banking problems Greece and Europe is facing...It's more then just Greece oweing a lot of $..{Euros} and unable to have enough income coming in to pay off debt..

america.aljazeera.com/articles/2015/2/18/greece-wants-to-save-europe-but-can-it-persuade-europeans.html