Greece demanding 382 billion from Germany for WWII

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OVERKILL

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http://www.thestar.com/news/canada/2015/...eparations.html
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Financially struggling Greece says Germany owes it $382 billion in money and archeological objects stolen by the Nazis in the Second World War. After decades of demanding the country’s cash and treasures back, Greek parliamentarians last Monday put a final price tag on how much they believe Germany owes them in repatriation payments — €278.7 billion ($382 billion), said Deputy Finance Minister Dimitris Mardas. The money could go a long way in helping rid Greece of its $431-billion debt and could save the Mediterranean nation from looming financial ruin as it struggles to make payments to its creditors. On a recent visit to Berlin, Greek Prime Minister Alexis Tsipras said there are moral and ethical reasons why the Germans should reimburse Greece for the almost incalculable pain and suffering bestowed on the nation during the war. Not only were ancient Greek treasures pilfered by the Nazis and money taken out of the Greek banking system, tens of thousands of Greeks starved to death so the Nazis could feed its war machine. Tsipras’s left-leaning Syriza Party blames Germany for the recent hardships most Greeks have suffered due to austerity cutbacks in exchange for billions in loans to keep the country afloat. Germany, the economic engine of Europe, is one of Greece’s biggest creditors. No surprise Germany is rejecting Tsipras’s arguments. German Vice Chancellor Sigmar Gabriel even called the Greek proposal “dumb,” reported the Telegraph, adding it confuses the current problem of Greek debt with the past. Germany said it paid Greece repatriation funds in 1960. It all doesn’t add up for Miranda Xafa, a senior fellow at Waterloo’s Centre for International Governance Innovation. “Greece had the opportunity to ask for additional reparation payments when Germany was reunified in 1990, but didn’t. Now that Greece is in dire straits financially, it pops up a request for reparations out of the blue,” Xafa said from Athens. Xafa also served as a member of the executive board of the International Monetary Fund in Washington from 2004 to 2009. “I thought this issue had died out when Prime Minister Tsipras told Chancellor Angela Merkel during his recent visit to Berlin that Greece is asking for moral, not financial compensation,” she added. Tsipras is reaching far and wide in his search for funds to prop up Greece. On Wednesday, much to the dismay of most European leaders, Tsipras is travelling to Moscow to meet with Russian President Vladimir Putin for what is being billed as talks on a wide range of subjects including finance and gas prices. On Thursday, Greece must make a €448 million ($613 million) debt repayment to the IMF. Greek Finance Minister Yanis Varoufakis has promised Greece will not default. And at the end of the month, Greece owes another €80 million euro ($108 million) in interest payments to the European Central Bank. Some believe Greece could eventually default on its payments due to the Syriza government’s slow pace of economic restructuring and its wish to restore social spending to help the impoverished Greek people. Greece is trying to reach agreement with official creditors, but progress is painfully slow, said Xafa. “To make things worse, the Greek government’s legislative initiatives so far go in the wrong direction, insofar as they tend to raise government spending. The slow pace of progress has increased the risk of default, as Greece is running out of cash fast ahead of large debt service payments due in May and June, mainly to the IMF,” she said. “Unless bailout funds are received in early May a disorderly default looms.”
Didn't Germany bail-out Greece and prevent them from going bankrupt recently? Angela looks like she wants to stab him in the throat, LOL!
 
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A little too late. Germany is not the vanquished power it once was. Greece is not in a position of power to demand that. Besides they accepted over DM100 mn over half a century ago in war reparations from Germany.
 
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It's only a smokescreen from the leftist Greece political party to delay what they promised to the Greeks during election. Fact is, they owe, they owe, they owe....They still have to pay up and the deadline is looming. Can't dodge this obligation when they (govt of Greece) signed off with the creditors to borrow those money in the past. Q.
 
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There is a mindset the says I don't have to repay my debts because someone owes me a living. Politicians use it to get elected. Greece is barking up the wrong tree when dealing with Germany and sticking to that very attitude. These current arguments are nothing but hot air, in other words politicians talking. When politicians lie to their citizens it works as Americans found out. When politicians lie to other politicians it's not as effective.
 
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If Germany doesn’t budge they can try to collect money from Italy because of the damage done by the Roman Empire. But on the other hand the Trojans descendants could demand reparations... just imagine how much money would that be after 32 centuries of interests???
 
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Bunch of lazy arse pan handlers...they got so much aid from the IMF and ECB and now they refuse to pay back. Let them sink I say...kick them out o the EU and Schengen, introduce work and tourists visas for all greeks and on top of that impose economic sanctions. If they default and go bankrupt again, statistically that means they would have a bankruptcy every 30 years for the past 180. Their ancestors are probably rolling in the grave seeing how wimp that once great nation has become.
 
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Greece, Germany and many other European nations are part of the EU. The EU parliament hasn't had its accounts signed off for 14 years. All member nations are complicit in the corruption and fraud prevalent, Germany as much as any other member. Most of Europe is a financial basket case, Greece making stupid demands is no big deal in the greater scheme of things. Claud.
 
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Perhaps it would be a bargain to pay them the money in exchange for them leaving the EU and striking out on their own, needing only to make their case to the entire world, instead of benefiting from the better credit of their EU partners.
 
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When you owe the bank a little money, it is your problem. When you owe the bank too much money, it is the bank's problem. Greece would probably be happy to be kicked out of the Euro zone, but Deutschland would be in big trouble trying to collect the debt and balance its book as a result.
 
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Originally Posted By: Mr Nice
How will this Greece crisis affect the USA and our economy / stock market ?
The Euro's worth about a buck, so the dollar's strong and oil's cheap. Whatever the US has for problems, as long as they aren't as bad as elsewhere, we'll do okie-dokie.
 
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Originally Posted By: Mr Nice
How will this Greece crisis affect the USA and our economy / stock market ?
Pretty simple...the euro will dive even faster compared to the USD and since the euro holds the most percentages in cross currency trading when it comes to the USD, that will make the greenback stronger on all fronts. With a strong dollar the US exports will go down the drain...why do you think Yellen keeps pushing the rate hike?
 
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Al

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Originally Posted By: daves87rs
Going to be quite messy in greece soon...
This. They can't and won't repay their debts. It won't end well. You will see a mass migration of greeks to the U.S.
 
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Originally Posted By: PandaBear
When you owe the bank a little money, it is your problem. When you owe the bank too much money, it is the bank's problem. Greece would probably be happy to be kicked out of the Euro zone, but Deutschland would be in big trouble trying to collect the debt and balance its book as a result.
Yup, you got that right. Greece has no intention paying anything back, they just want to squeeze out as much as they can before leaving EU. Once they leave EU, they will have no obligation to pay any money at all. In a way, Greece is doing the right thing. EU is a parasite and should be eliminated. Hopefully Greece's actions will mobilize other EU members to abandon ship.
 
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They have no intention of paying off their debt. Greece needs to be removed from the EU and put back on their own currency so they can inflate it to worthlessness. I don't know why Germany puts up with this nonsense. Greece's economy is based on the government giving out jobs, they are broke and don't want to work. Nothing will change that.
 
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Originally Posted By: hattaresguy
They have no intention of paying off their debt. Greece needs to be removed from the EU and put back on their own currency so they can inflate it to worthlessness. I don't know why Germany puts up with this nonsense. Greece's economy is based on the government giving out jobs, they are broke and don't want to work. Nothing will change that.
Don't want to work hard. They have very poor productivity numbers for the amount of hours they show up for work, second only to maybe Japan. Sure, they put in fifty hour work-weeks - But I get the same amount of work done in under 30 hours myself.
 
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