Thursday 22 February 2018

Treaty truths

• The first thing trainee bankers learn is that if you lend someone more money than they can repay then you both have a problem.

Germany insists that in the euro crisis only the borrowers have a problem. Our banks were foolish lenders and lost the money that the cautious German banks wisely loaned them. We therefore must repay the wise and cautious German banks.

Only a German sense of charity and 'Europe' is causing them to try and help the borrowers make their repayments through short-term loans from the ECB.

Please sign in or register with for free access to Opinions.

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss