Breathtaking German hypocrisy: Germany owes Greece 11 billion euros in unpaid loans
January 27, 2015
The Free Market right have, predictably, made a lot of disapproving noises in the direction of Syriza, the anti-Austerity party that won the Greek General Election at the weekend. This very much includes Germany, which has condescendlngly given the Greeks a lecture about continuing to prioritise its Debt repayments.
This is rich, given Germany still owes outstanding loans dating back to the Second World War, including 11 billion euros-worth owed to… Greece.
(not satire – it’s Germany!)
This little fact changes everything.
In 1943, Germany forced the Bank of Greece to lend it two loans worth 11 billion euros in today’s money.
And Germany has still not paid back the debt.
This money is not war reparations, which are a separate and much more complex issue.
The debt is a straightforward loan from Greece to Germany – albeit a forced one – which the Germans have not bothered to repay.
Which – considering the Germans have been bleating on and on and bloody on about how the Greeks should honour their present debts – is a case of breathtaking hypocrisy writ large, I’d say.
If you agree, please share. Thanks.
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