And stocks are rising as powerful people and organizations prop up share prices just long enough to unload their own positions, leaving the little guys to drown. Far better to just let Germany take over the payments and own that Greek jalopy outright.
Giving big financiers an escape route at the expense of everyday folks is so bad. Bug giving big financiers an escape route at the expense of everyday Germans is good.
Is... is the author advocating that Germany buy Greece? Or simply that Germany help bail Greece out? Either way sounds a bit... unprecedented and unlikely.
And besides not crashing the EU economy, what is Germany getting out of it? Germany and Greece are quite far from each other, geographically. It is like the US buying a controlling influence in Israel in return for a (economically) stable and growing trading partner? Is it simply plugging the hole with your finger to keep the boat from sinking? Or are they looking for geographical expansion?
This isn't like a US-Israel situation; it's more akin to a California-Alabama situation (which is actually about the same distance as Germany-Greece). Germany and Greece are part of this economic bloc called the European Union, and they share the same currency. Greece's debt is also financed mostly from German banks. If Greece goes down, so does a large chunk of Germany's economy, as the banks will either fail or take drastic measures (like putting a stop to all lending) to protect their balance sheets. Since Germany is the largest economy in Europe (20% of the EU's GDP), this will basically kill the EU as we know it and may bring on a global depression.
Right, what I was dancing around asking was "does the author really believe Germany is going to buy Greece and keep it?" Like California buying Alabama and now you've got two Californias.
europe is just letting greece live long enough so that they can get a wall of money for spain and italy and recapitalize the banks enough to cover a greece default.
Giving big financiers an escape route at the expense of everyday folks is so bad. Bug giving big financiers an escape route at the expense of everyday Germans is good.
What does Cringley have against Germans?