My understanding of the situation is that German and French banks flooded Greece with easy credit. And as it always happens under such circumstances people/corporations/governments borrowed heavily and when the crisis hit in 2009 they couldn’t repay. All of the so called bailouts have been aimed at making sure French and German banks didn’t suffer and the ones who did suffer have been the Greek people with the exception of the ruling class.
Loans are a two party relationship and people tend to view the borrower more harshly than the lender. Lenders tend to get bailed out and somehow aren’t viewed negatively for their profligate lending. Why is it only the borrowers that suffer?
Loans are a two party relationship and people tend to view the borrower more harshly than the lender. Lenders tend to get bailed out and somehow aren’t viewed negatively for their profligate lending. Why is it only the borrowers that suffer?