Tuesday 24 January 2017

John Bruton: This isn't about Greeks versus Germans .... it's really borrowers versus savers

Published 20/02/2012 | 12:38

Special Police Forces stand guard as firefighters put out a blaze on Stadiou Street during the demonstration against the new austerity measures. Photo: Getty Images
Special Police Forces stand guard as firefighters put out a blaze on Stadiou Street during the demonstration against the new austerity measures. Photo: Getty Images
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WE read that there is a severe outbreak of anti German feeling in Greece.

Under the second EU/IMF bailout, Greece is being lent extra money at interest rates far below those at which it could borrow commercially, and in the meantime a portion of its existing debts is being written off.

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