The newspapers in Germany need to get over themselves. The European sovereign crisis has been a windfall for Germany in almost every way. The crisis in Greece will not cost the German government one cent. It’s almost unimaginable that multilateral loans from the EU or IMF will not be paid back in full, with interest. Even banana republic’s in Africa who don’t pay a cent to private creditors repay the government-sponsored loans in full. In fact, no country has ever defaulted on an IMF loan and the same standards apply to the EU. Germany is extending loans to Greece for 7 years at nearly 4% while paying just 1.36% to ... (full story)