Posted by WARREN MOSLER on September 26th, 2011
The ECB funds Greece which facilitates the purchase of German goods and services, including military,
at ‘no cost to the German taxpayer.’
Germany gets to control/impose austerity on Greece,
which keeps the euro strong, interest rates low, and punishes Greece for past sins.
Half of Germans oppose Greek bankruptcy (AP)
A poll finds that half of Germans oppose letting Greece go bust and a majority believe a Greek bankruptcy would be bad for their own economy. The ZDF television poll published Friday showed that 50 percent of respondents wouldn’t favor the European Union letting Greece go bankrupt, while 41 percent would. It says 68 percent believe such a bankruptcy would be economically bad for Germany and only 15 percent expect positive effects. Athens is working to persuade international debt inspectors to authorize the next batch of bailout cash. Without the euro8 billion, Greece has said it would run out of money next month. The poll of 1,229 people was conducted from Tuesday to Thursday and has a margin of error of plus or minus 3 points.