By Dsa

By Conn Hallinan

Memory is selective, and therein lays an explanation for some of the deep animosity between Berlin and Athens in the current debt crisis that has shaken the European Union (EU) to its foundations.

For German Finance Minister Wolfgang Schauble, “memory” goes back to 2007 when Greece was caught up in the worldwide financial conflagration touched off by American and European speculators. Berlin was a major donor in the 240 billion Euro “bailout” — 89 percent of which went to pay off the gambling debts of German, French, Dutch and British banks. Schauble wants that debt repaid.

Millions of Greeks are concerned about unpaid debts as well, although their memories stretch back a little further.

Source: Greece: Memory and Debt