Giles Fraser wrote:
So, to recap: corrupt German companies bribed corrupt Greek politicians to buy German weapons. And then a German chancellor presses for austerity on the Greek people to pay back the loans they took out (with Germans banks) at massive interest, for the weapons they bought off them in the first place.
Is this an unfair characterisation? A bit. It wasn’t just Germany. And there were many other factors at play in the escalation of Greek debt. But the postwar difference between the Germans and the Greeks is not the tired stereotype that the former are hardworking and the latter are lazy, but rather that, among other things, the Germans have, for obvious reasons, been restricted in their military spending. And they have benefited massively from that.
Debt and war are constant partners. “The global financial crisis was due, at least in part, to the war,” wrote Nobel prize-winning economist Joseph Stiglitz, calculating the cost of the US intervention in Afghanistan and Iraq, pre-financial crash, to have been $3tn. Indeed, it was only this year, back in March, that the UK taxpayer finally paid off the money we borrowed to fight the first world war. “This is a moment for Britain to be proud of,” said George Osborne, as he paid the final instalment of £1.9bn. Really?
Dr Giles Fraser is priest-in-charge at St Mary’s Newington in south London and the former canon chancellor of St Paul’s Cathedral.
More than 61 percent of Greeks have voted “No” in Sunday’s referendum on the bailout deal and austerity measures, reported the Interior Ministry after almost 90 percent of the vote had been counted.