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Tom Armistead
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I am a retired accountant, having spent the early years of my career in the insurance industry and the later part in the field of accounting. My insurance experience has given me the willingness to accept investment risk if I feel the return justifies it; also, an interest in applying risk... More
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Tom Armistead's Instablog
  • Greece Unable To Pay Reparations 3 comments
    Feb 15, 2012 3:33 PM

    Germany, in the wake of WWI, was given reparations to pay, very heavy. Efforts to pay it may have precipitated the hyper-inflation of the Weimar Republic.

    In the wake of WWII, the US came up with the Marshall Plan, which had a better outcome.

    Just a thought, but Germany and its allies have won an economic war, with Greece in a Depression and heading into chaos. Maybe something along the lines of the Marchall Plan would be in order, rather than this determined effort to exact their pound of flesh, verging on reparations.

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Comments (3)
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  • flash9
    , contributor
    Comments (3752) | Send Message
     
    Germany looks like the bad guy here. They want Greece out and instead of throwing them out they are making such ridiculous overbearing demands that Greece will be forced to withdraw to save face. And Germany will say we tried.
    15 Feb 2012, 08:46 PM Reply Like
  • Augustus
    , contributor
    Comments (2837) | Send Message
     
    These are not Reperations.
    The Greeks borrowed money to spend upon themselves.
    All of the spending was under their control.
    Now they are unhappy with paying the bill.
    It is requiring the party to end.
    Except it is not ending. They need to borrow every day as about 60% of the workers are employed by the government.
    16 Feb 2012, 11:58 AM Reply Like
  • JeffreyLangBoyd
    , contributor
    Comments (663) | Send Message
     
    I agree Germany missed an opportunity to make amends for past sins.

     

    Perhaps they will still make it right. The Greeks can't expect the rest of Europe to subsidize their retiring at 55 when everyone else works until their late 60s. The crisis may have been necessary but the German "smugness" will likely not be forgotten anytime soon.
    16 Feb 2012, 06:36 PM Reply Like
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