Quote Originally Posted by Fragony View Post
Well that as well, although they tend do dig their own holes. Your metaphor is better then you think

On a more serious note, godwins from South Europeans and Eurocrats are starting to really annoy me, there are only so many left before the Germans will stop nodding out of politeness and will just give the finger instead. That plumb eastblock workhorse and ex stasi-informer Merkel isn't going to be forever in charge to appease the international-socialism, they (the Germans) have seriously had it being bullied and morally blackmailed by these garlic-slackers. Same goes for us, the europhiles have little popular support to go on, we already said no to all of this.
You assume Germany does it out of altruism or some euro dream, but the fact is that a lot of debt of those countries are in fact to German banks. If they default, German banks lose a lot of money. Then those banks need to be helped out or they'll go bust.

So, Germany writes off some debt, give additional credits and aid and in the end comes in good shape. In the other case, Germany does nothing and watch Spanish and Greek deficits suddenly become German deficits.