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How Europe failed Greece and what its European “partners” never learnt from recent European history


 

Greece’s financial nightmare has lasted five years now. There’s no sign of real relief—for a very specific reason.

While reading different Online Magazines regarding Greece one could come across a United States magazine called Salon (23/6/2015) which has a recent article entitled ” Europe wants Greece to suffer ” , and explains:

What has been happening in Greece has been a long exercise in sadism by European elites, who care only about keeping their political project alive, regardless of how those who must deal with the consequences are affected. Three governments ago, Greece rang up a series of debts that they have no practical ability to pay back. The structure of the eurozone, 19 countries sharing a common currency, encouraged this debt buildup, which manifested through capital flows from the wealthier north to the southern periphery. With a single currency, investors chased higher returns in countries where capital was scarcer; this was part of the core euro design. When the investors pulled out and the debts came due, the northern states, led by Germany, pretended this didn’t happen and demanded their money back.

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