1. Would you pay good money for something that is faulty?
    (Leonidas, 28 April 2012 12:45)

    What did you expect? Except for the first one they were built in a Greek shipyard ;)

    But nevertheless:
    "The Germans eventually found that all the claims were false or exaggerated. In response, the Germans sued for breach of contract."
    [link]
    (Wolfgang S., 28 April 2012 13:04)

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  2. Interesting link. Have you read it at all?:
    "And then she mentioned the issue of outstanding payments on submarines she said Germany had been owed for over a decade."

    (Wolfgang S., 28 April 2012 10:44)

    But she didn't say that the reason for non-payment is the fact that those submarines are faulty.As a matter of fact the Germans tried to sell one of the submarines to Portugal and later to Poland at a lower price and they both declined.Would you pay good money for something that is faulty?
    (Leonidas, 28 April 2012 12:45)

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  3. (Leonidas, 27 April 2012 22:11)

    Interesting link. Have you read it at all?:
    "And then she mentioned the issue of outstanding payments on submarines she said Germany had been owed for over a decade."

    User Rourkey: "as the Germans are having to bail out Greece the least Greece could do is honour it's debts to German companies"
    User Zhengi: "I don't quite understand. How is Germany at fault here when it's Greece who is spending the money buying the weapons? That's like going to an electronic store and being tempted by the shiny 80" TV with the works, buying it, and then blaming the store that you have spent your money on that shiny new gadget and not having enough money to spend on other things."
    User catfish: Greece: "we're in debt because you keep selling us stuff"
    Germany: "why do you keep buying it from us?" Greece: "f*** you Germany"

    By the way: There is an interesting article in your favorite German newspaper Focus stating that your government can not even afford to buy the paper to print the ballot cards. Good luck to you!
    (Wolfgang S., 28 April 2012 10:44)

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  4. Stick it to her Francois!~!!~

    This current period of fascist French and German leaders is over!

    Sarkozy disgraced the whole of France.

    Now Merkel can suffer alone.
    (trizo, 28 April 2012 00:45)

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  5. As an economist I find some of the comments on this website pertaining to economic isues highly amusing especially Leonidas who must have studied Marxist philosophy in North Korea.I have Greek colleagues who have a completely different view from Leonidas and we get a good laugh at his attempts to clarify highly complex economic issues into such simplistic thoughts.Keep up the delightfully nonsensical but highly entertaining posts Leonidas
    (luciano, 27 April 2012 22:56)

    My comments might be entertaining for ECONOMISTS like yourself who btw have no opinion on economic matters but at least I am on record on B92 saying the same things for the last 5 years and I think Iam being vindicated.I've always maintained the Greek crisis was an EU crisis which would engulf the weakest countries and with time it would make the whole project wither away.I have visited many places around the world but North Korea is not one of them.

    BTW I have a very low opinion of economists whom I regard as highly paid
    bstrs.
    (Leonidas, 28 April 2012 00:40)

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  6. And Serbia still wants to join the EU, Germanys club?
    (Lenard, 28 April 2012 00:04)

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  7. As an economist I find some of the comments on this website pertaining to economic isues highly amusing especially Leonidas who must have studied Marxist philosophy in North Korea.I have Greek colleagues who have a completely different view from Leonidas and we get a good laugh at his attempts to clarify highly complex economic issues into such simplistic thoughts.Keep up the delightfully nonsensical but highly entertaining posts Leonidas
    (luciano, 27 April 2012 22:56)

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  8. Once you have paid for your submarines, Leopard 2 tanks etc. you can start resisting. Until then the German bailiff will simply say no.
    (Wolfgang SS., 27 April 2012 20:24)

    Usual comments from ignorant Albanians posing as Germans.Total cost of the Submarines was 3 billion euros of which 2 billion has been paid.The outstanding 1 billion Euros will be paid when the submarines become seaworthy.
    [link]

    BTW Spain was downgraded again today to just two notches above junk status.With $1.8 trillion debts-most of it held by German banks- i can see Merkel having long sleepless nights.Good luck to Germany.
    (Leonidas, 27 April 2012 22:11)

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  9. There is no way out for the EU or the US from the crisis, the way they will manage the crash will be by fascist violence and repression. This must be resisted.
    (Leonidas, 27 April 2012 15:32)

    Once you have paid for your submarines, Leopard 2 tanks etc. you can start resisting. Until then the German bailiff will simply say no.
    (Wolfgang S., 27 April 2012 20:24)

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  10. Hollande has a point - without growth, there is almost no hope of debts being repaid. The Germans want the rest of Europe to cut government spending and use the money that's saved to pay down debts, but it doesn't seem to be working. Even if you can ignore the social misery austerity is causing, and the riots in the streets, revenues to the governments are falling - companies that go out of business for lack of revenue - from customers with no money - don't pay taxes. Cutting government spending should be done during flush periods, as the Germans did (and as Americans wish we had done), not when the economy is on life-support, when essential spending (keeping the police on the streets, people fed, and children in school) must continue.

    Look at how various economies are doing - America borrowed and printed money to keep the economy turning over, no matter how slowly, and things are now picking up. It's not an impressive recovery at this point, but then, the problem has been building for years, and one of our main export markets (Europe) is sickly and China is slowing down, and the politicians are fighting even more than usual. But still: the automobile industry is thriving, tax revenues are up, unemployment is falling. The debts will have to be repaid, off course, but with more tax revenues, that won't be as bad as it looked last year. The UK, on the other hand, which under its new government started slashing government spending in all directions, looks like it's going back into recession, and Spain - which really wasn't in that bad shape at the beginning of the crisis - just keeps getting worse, the more it cuts.

    But even if Merkel agreed, she's the German chancellor, and Germans have a mystic appreciation for frugality, maybe after having lived through the inflation after WWI, or centuries of living in a cold climate where if you didn't prepare during the summer, you might not make it through the winter. (There were no helicopter drops of supplies for people snowed in with insufficient food and fuel for most of human history.) So the Germans are really having a hard time seeing why they should have cut their wages years ago to prepare for this, and now have to bail the improvident out. (Yes, I know the Greeks have a different view of the matter.)

    So - it will be an interesting election in France.
    (Amer, 27 April 2012 19:23)

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  11. Looking at the crisis afflicting the EU and the West in general from the point of view of a change in personnel in France is just superficial and will have no effect on the imminent collapse of this"faux-system".It's snake -oil,money for old rope,a giant ponzi-pyramid scheme, a massive confidence trick.Any economic system based purely on confidence,and manipulations surrounding interest and debt,is literally designed to be doomed.

    Fractional decimalisation,quantitative easing,fiduciary issuance,are all part of the magic language created to blind,fool,and coerse us all into buying the con that is for-profit & debt-based monetary system.

    The money sloshing around financial systems has no relation to the real physical world anymore(if it ever did)apart from the negative effect it has on societies that have been forced to underwrite all the gambling and speculation and has turned present and futere populations into debt slaves.

    What we're seeing now is the "end-game" of a system that has diluted the values of its monetary currencies tothe point whwre there is no real value in it any more.Bottom line,the system is abslolutely buggered and it has nothing to do with"business cycles" but everything to do with the parasitical nature of the financial elites that have elevated money accumulation as their only goal.

    There is no way out for the EU or the US from the crisis, the way they will manage the crash will be by fascist violence and repression. This must be resisted.
    (Leonidas, 27 April 2012 15:32)

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  12. Who pays the piper calls the tune… Especially the French surrenderers and Vichy collaborators are the last ones to complain.
    (PiedPiper, 27 April 2012 14:59)

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