Timeline for How is Japan able to sustain a large debt as a percentage of GDP, while Greece could not?
Current License: CC BY-SA 4.0
24 events
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| Mar 23, 2020 at 10:05 | comment | added | bobsburner | That talk of interest on debt reminds me, some of that debt Japan has are bonds with negative interest rates. | |
| Mar 22, 2020 at 17:07 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| S Mar 22, 2020 at 16:33 | history | suggested | Peter Mortensen | CC BY-SA 4.0 |
Copy edited (e.g. ref. <https://en.wiktionary.org/wiki/yen#Noun>, <https://en.wiktionary.org/wiki/euro#Noun>, <https://en.wikipedia.org/wiki/Percentage_point>, and <https://en.wikipedia.org/wiki/Coronavirus_disease_2019>).
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| Mar 22, 2020 at 15:55 | comment | added | Peter Mortensen | @Italian Philosophers: Ironically, Germany was the first country to violate the rules (percentage deficit) - together with France (if I remember correctly). | |
| Mar 22, 2020 at 15:50 | comment | added | Peter Mortensen | Re "Europe": Do you mean "the European Union"? Or "the eurozone countries" (a subset of the European Union)? E.g., does Norway have obligations towards Greece? | |
| Mar 22, 2020 at 15:44 | review | Suggested edits | |||
| S Mar 22, 2020 at 16:33 | |||||
| Mar 21, 2020 at 20:21 | vote | accept | CDJB♦ | ||
| Mar 21, 2020 at 16:56 | comment | added | Frank | Italian is incorrect. Germany had an explicit policy of keeping domestic labour costs down while pushing their surpluses onto Southern Europe . When the free money taps got turned off the western media pointed at the PIIGS as lazy unproductive fools, in outright racist/nationalist condemnation, without informing anyone of the underlying truth. It took too long for Germany to sacrifice. Info google.com/url?sa=t&source=web&rct=j&url=http://… | |
| Mar 21, 2020 at 16:48 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 21, 2020 at 16:22 | comment | added | Italian Philosopher | Germany may have had input because of how much German banks loaned - but everyone had their snout in the trough. Probably a good deal more was that, in 1992, the Bundesbank had insisted on criteria to join the Euro. Had they been respected, Greece would not have had to default. Germany didn't want to bail out and give a free pass to the Greeks for messing up. The Germans are just more prudent in public spending and the role of schoolmaster sure wasn't gonna be taken up by France, which hasn't balanced a budget in 40 years. | |
| Mar 21, 2020 at 16:17 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 21, 2020 at 16:07 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 21, 2020 at 16:01 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 21, 2020 at 15:55 | history | edited | CDJB♦ | CC BY-SA 4.0 |
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| Mar 21, 2020 at 15:34 | comment | added | Italian Philosopher | @com.prehensible not sure if actual industry and income crash started this for Greece because it happened so quickly. I think, after screwing the bad mortgages fiasco in the US financiers were finally asked to do their job and assess risks correctly. Greece didn't look a good risk, so kaboom. While I understand why bank bailouts were needed (Machavaty's under-rated ans), I wish individuals from then-CEOs down to the individuals mis-pricing risks had had their trading licenses revoked and were flipping burgers, something they, possibly, might be capable of doing. | |
| Mar 21, 2020 at 5:36 | comment | added | bandybabboon | cool, to sume it up, debt-repayment ability. Greece can't make the repayments very well, its industry (services/tourism) crashed when the world got poor, it lost half its revenue. I am told that german banks are responsible for the unsustainable debts in the first place, reason for which merkel was so much involved. | |
| Mar 20, 2020 at 21:32 | comment | added | ohwilleke♦ | Tax collection is key. Also, a better measure than debt relative to GDP is interest payments relative to GDP and relative to government revenues. | |
| Mar 20, 2020 at 16:19 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 20, 2020 at 15:59 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 20, 2020 at 15:53 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 20, 2020 at 15:47 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 20, 2020 at 15:32 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 20, 2020 at 15:25 | history | edited | Italian Philosopher | CC BY-SA 4.0 |
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| Mar 20, 2020 at 15:14 | history | answered | Italian Philosopher | CC BY-SA 4.0 |