Economic Scene: Germans Forget Postwar History Lesson on Debt Relief in Greece Crisis

http://www.nytimes.com/2015/07/08/business/economy/germanys-debt-history-echoed-in-greece.html?partner=rss&emc=rss

As policy makers know well — and Germany perhaps better than any — major debt overhangs are solved only by writing down the debt. And the longer the delay, the deeper the pain.

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