EU: Why the World Should Not Worry About Greek Blackmail

FRANKFURT - Germany - The petulant nature of the Greeks to renege on previous debt liabilities is something the Germans are well aware of, and have sufficiently prepared for the slight hiccup.

 

“If you think about it, Greece only makes up 0.2% of eurozone finances. If we drop this donkey, it is no skin off our bones. In fact, the value of the euro would shoot up and we will be free of their blackmail. They spent the money they took and now are demanding not to pay it back. This is not economics but thievery of the highest order. Everywhere we look and we see them holding banners up to drop the debt. This is their mindset. Why should the middle class taxpayers of the rest of hard working EU countries have to pay for profligate, greedy and lazy people who have no way of ever paying back the loans? We have therefore made the decision to remove them from the eurozone, as they have not made any moves to agree to repayment measures,” an unnamed source within the EU revealed on Thursday.

History repeats itself as in this Daily Squib article from 2012. However, this time around the Germans are much more prepared to dump the Greeks, especially with Draghi’s QE push with the European Central Bank.

“We will just erase the mistake of letting in the Greeks to the eurozone. They used Goldman Sachs to mask the country’s true debt levels enabling entry into the eurozone. This was fraud and criminality of the highest scale. In a few months time it will just be a bad memory. We will fill the financial black hole by simply printing money and let other EU economies recover,” an ECB financier wrote in Der Spiegel.