Sunday, February 21, 2010

Nothing like an old grudge

You may have heard that Germany is stepping in to prevent a Greek default that could do grave damage to the euro. But don't for a minute think that their reception is all sweetness and light. This from the John Mauldin Report:

"Greek opposition lawmakers said on Thursday that Germans should pay reparations for their World War Two occupation of Greece before criticizing the country over its yawning fiscal deficits.

"How does Germany have the cheek to denounce us over our finances when it has still not paid compensation for Greece's war victims?" Margaritis Tzimas, of the main opposition New Democracy party, told parliament."

This was during a debate in the Greek parliament on how to handle the Greek debt. And it was echoed by both the left and right political parties. Somehow they forgot about the German government paying 115 million deutschmarks in 1960, not a small sum back then. It seems that many Greek politicians are still in the denial stage of dealing with this crisis."

Oh well, sometimes you just can't win!

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