Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

that's nonsense. 1) the German debt post WWI was imposed upon it. The Greek debt was taken on by the country itself. 2) News flash: Austerity only hurts the poor when the political elite choose to cut social programs instead of giving their cronies a haircut. But you know, it's easier to hold the poor hostage. 3) A huge part of the reason why greece can't pay its obligations is because their 1% thinks paying taxes is a joke. 4) Germany's "clever" out of the Treaty of Versailles was to devalue the currency and pay back in cheaper nominal payments. Greece can't do that because while the local central banks can do some easing shenanigans, they're still part of the eurozone and so the effects will be diluted because you can be damned sure that Germany and France won't play Greece's game in that matter.

So, in short: Nothing at all like the interbellum.

>The PR outfall of that debacle is probably what pushed the Brits to vote for exit.

But yes, the Brits are very wise to exit, because (especially if they enter the eurozone, which is clearly the next step in ever closer union) they are definitely the "next germany". And that might even happen without joining the eurozone, by fiat.



Greece in particular is sort of remarkable in how much of government spending goes to the top 20% and how little to the bottom 20%. See page 5 of this report.

http://www.oecd.org/els/soc/OECD2014-Social-Expenditure-Upda...




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: