What kind of logic is that?
This is especially true with central banks, where every € you receive comes with debt attached. How do you repay the interest on those debts? You have to borrow more €'s from the central bank, which also come with more debt attached. And so your debt burden increases exponentially until you're crippled by interest repayments. It is mathematically impossible to repay debt in these circumstances.
It takes two parties to get into a mess like this. As the old saying goes, "if you owe the bank $50 thousand, you're in trouble. If you owe the bank $50 billion, you're in it together".
Why the hell would anyone give out loans in first place if they are going to get zero to negative interest rates? Even Islamic banking takes equity or other ways of making sure that they are rewarded for lending money.
I'm just trying to see it from your view but you simply demonize EU and Banks because it gives the borrower a hard time without considering that it's also the lender's money and opportunity cost at stake here. It's not very convincing.
Good question, ask the ECB - http://www.telegraph.co.uk/finance/comment/jeremy-warner/115...
> "you simply demonize EU and Banks"
Wow, after all your Greece trash talk you accuse ME of demonizing? This is no longer a rational conversation.
The most likely thing that would have happened is that at some point Greece would have entered a financial crisis, devalued its currency, and gone off as usual. As it's happened countless times in other places.