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Originally posted by lokdog
I dont think Merkel has a choice but to bail out Greece, if she doesnt the German banks will take a huge hit. If German banks are anything like American banks then theyre "to large to fail".
So Merkel has two choices bail out the PIGS, or bail out the German banks when the PIGS default. Both are bad choices, I figure Merkel thinks bailing out the PIGS is the lesser of two evils.
Either way the bankers are going to get there money and the German people are going to pay for it. Thats the way the world works.
Originally posted by Misoir
[...] But before I depart from this topic may I leave some words of wisdom? The Treaty of Versailles in 1919 costed Germany 132,000,000,000 German Marks ($31.4 billion) about equivalent to $442 billion today, the result of that treaty was the inevitable cataclysmic fall of the German economy and the eventual rise of Adolf Hitler for national restoration. While I do not in any way believe Germans would ever allow such a horrible man to power again my point is that you poke the hornet’s nest which has been forced into submission for nearly 70 years do not be surprised at the results you get.edit on 5/31/2011 by Misoir because: (no reason given)