Money to burn ???

[greenstiles]

Is this just so Germany and it's close chums in the future can say 'yes the euro community worked'

Or is it a big big waste of money that could be spent on propping up our own country and others who are not as far advanced as Greece YET !
http://www.bbc.co.uk/news/world-europe-17109044

 

[Easy_Rider]

Germany has gained a lot from the euro. It's exports have remained competitive by the relatively low euro, had they still had their own currency then their exports would be much dearer and Germany wouldn't be doing nearly as well, so to keep the euro going is in its own interest.

 

[hamster]

Germany is stuffed both ways. If they let Greece dafault, then German banks (who lent hugely to Greece) go under. So all in all bailing out is probably the better option.

However, limitless austerity is no guarantee either - witness the Great Depression of the 1930's, which was caused precisely by hacking back spending.