GREECE will default on its EU debt mountain because membership of the European Union has destroyed most of Greece’s industrial base, and the Germans know this only too well.
France occupied Germany’s industrial Ruhr Valley during 1923 to 1925. The Weimar Republic tried to carry on with a paper economy but failed miserably through high inflation. The Germans know the importance of having a strong industrial base because of what happened to the Weimar Republic.
Greece has received many bailouts from the euro currency and it has only made things worse.
Greece needs to rebuild its industrial base but this cannot be done through bailouts which only add to Greece’s enormous EU debt mountain.
TERRY HAYWARD Burnham Road Swindon
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