

What on earth is the ECB up to? - thyrsus
http://coppolacomment.blogspot.com/2015/02/what-on-earth-is-ecb-up-to.html

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PaulHoule
It is being stupid.

Note that in the early 1950's, there was a writedown of German debt of around
50%, it was realized that the debt was a burden to development and not
realistic to collect.

The Greek regime(s) have been pretty bad but nowhere near the 1933-1945 German
regime which caused so much trouble for everyone, especially the Germans.

If they are going to continue with the practices which worked so well with the
pre-1933 German regime and in Africa, there is going to be a predictable
result. If the Greek leaves the Euro the precedent is set and some day it will
be Spain or Italy or France that has to leave. It might be 20 years down the
road, but it is inevitable.

I have as low an exposure to Europe in my portfolio because Europe has not has
a "financial crisis" like the US, rather it has a financial crisis every few
months because it hasn't dealt with the Greece situation realistically. (The
scenario is a lot like 1990s Japan which has never recovered)

