And Varoufakis was was right when he mentioned that in 2010 Germany knew Greece would never be able to pay back its debts. However, that doesn’t go far enough. Germany knew from the get-go that Greece, among many other nations who never really qualified but were intentionally let in as EU members, was let into a system that was designed to fail. In other words, the failure was planned by Germany’s Fourth Reich in order to subjugate the continent via chipping away at national sovereignty in exchange for bailouts via its Troika proxy which kept the members from descending into chaos and riots. Furthermore, all the bailouts really did was bailout the French and German banks.
In the end all roads lead back to Berlin, the only winner in all of this.
The Greco-Germanic war of words continues… Having pissed off The Greeks with his “Troika” remarks, Germany’s Schaeuble went on today to more ad hominum attacks by reportedly calling the Greek FinMin “foolishly naive.” The Greek ambassador has ‘officially’ complained to “friend and ally” Germany about the personal insult. But The Greeks had the last laugh, as first Varoufakis and then Tsipras explained respectively that “Greece would never pay back its debts,” and “Greece cannot pretend its debt burden is sustainable.” The German response, via tabloid Bild, “there must be an end to this madness. Europe must not be made to look stupid.”
And then, as Reuters reports, Greek Finance Minister Yanis Varoufakis has described his country as the most bankrupt in the world and said European leaders knew all along that Athens would never repay its debts, in blunt comments that sparked a backlash in the German media on Tuesday.
A documentary about the Greek debt crisis on German public broadcaster ARD was aired on the same day euro zone finance ministers met in Brussels to discuss whether to provide Athens with further funding in exchange for delivering reforms.
“Clever people in Brussels, in Frankfurt and in Berlin knew back in May 2010 that Greece would never pay back its debts. But they acted as if Greece wasn’t bankrupt, as if it just didn’t have enough liquid funds,” Varoufakis told the documentary.
“In this position, to give the most bankrupt of any state the biggest credit in history, like third class corrupt bankers, was a crime against humanity,” said Varoufakis, according to a German translation of his comments.
Full article: Germans Furious After Varoufakis/Tsipras Admit “Greece Will Never Repay Its Debts” (Zero Hedge)