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Comment: Re:Germany should pay war reparations for WWII (Score 1) 722

by cheesybagel (#49777709) Attached to: Greece Is Running Out of Money, Cannot Make June IMF Repayment

- If you own the bank $$$ Drachmas and the Drachmas drops in value, the amount you own also drops, while if you drop your paycheck and the $$$ amount you own the does not drop YOU are literally worse off.

This is the exact reason why the creditors need to take a writedown. Or what will happen eventually is someone will leave the euro. Greece could be the first.

Comment: Re:Germany should pay war reparations for WWII (Score 1) 722

by cheesybagel (#49776145) Attached to: Greece Is Running Out of Money, Cannot Make June IMF Repayment

The lenders have a responsibility to check if the person they are loaning money to can afford to pay as well. A lot of bogus money was loaned to Greece knowing full well the Greeks could not pay with the intent of colonizing Greece in the future by owning their transport infrastructure, water supply, and other natural monopolies which should not be in private hands to begin with.

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