Because they should just forgive the 358 BILLION euros that Greece owes. And owes mostly to Germans. The Abhorrent and Detestable International Treatment of Greece
And all Germany wants them to do is to live up to the agreements they made.
They have a choice. Get out of the Euro, devalue the Drachma – once it is reintroduced. And get on with life. Their desire to stay in the Euro has brought 6 (count-em 6) years of recession. Unemployment will be double digits forever. Or for at least 8 or 10 years.
Greeks tell me their world has turned upside down. Many cannot find jobs. Others live in poverty, their pensions keep decreasing. And the government, obedient to the dictates of its lenders, is extracting more and more taxes.
Pensions when this all started were as much as 80 percent of your last year’s salary. And you got to retire at a very young age for that 80 percent. Tax cheating was a way of life. People didn’t pay the taxes they owed and the government didn’t bother to collect. Or even try and find them. That is not a recipe for long-term happiness.
Greece lied to get into the euro. They hid how large their deficit was every year, and they covered up how much debt they had. They didn’t make an honest mistake. They hired bankers SPECIFICALLY to cook the books. Once in the euro, they went on a binge. Borrowing like there was no tomorrow. Well, it is not time to pay the piper. And they don’t like it that things are not just the way they were.
Of course the Germans are not happy either. They have been footing the bill for pensions that are more generous than they get. One of the reasons that Mekel’s government is holding off until 2018 is because of the elections next year. If they forgive Greek debt they will be booted out of power so fast your head will spin.