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...past is not helpful at all to solve the problems facing us in Europe today," German Foreign Ministry spokesman Andreas Peschke told Reuters, pointing out that Germany has already paid billions to Greece in the form of official reparations for World War II as well as bilateral and European Union assistance...

Author: /time Magazine | Title: Greece's Debt Crisis: Blaming Nazi Germany | 2/26/2010 | See Source »

...conspiracists accuse "foreign hands," more specifically Anglo-Saxons, for the Greek and Spanish crises, arguing that they have always hated the euro and are now using their hedge funds and media operations to bring it down. Some suggest that speculators are attacking the euro to block moves toward tougher European Union regulation of the market. Others, like European Central Bank chief economist Jürgen Stark, suggest people are perpetrating a ruse to hide the U.K.'s budget deficit. "It's astonishing to see where most of the criticism of the euro is coming from," Stark says. "Much of what...

Author: /time Magazine | Title: What Caused the Euro Crisis? | 2/26/2010 | See Source »

...wounds and raising the specter of Nazism. As Greece struggles to avoid default, and Germans debate whether to bail out their spendthrift neighbor, the question of what, if anything, Germany owes Greece for the past has become a topic of bitter debate and angry mutterings in the southern European nation. The row began with a tongue-in-cheek magazine cover in the German magazine Focus. The Venus de Milo - known by Greeks as the Aphrodite for Milos (and considered by some to be part of the country's looted heritage) - was depicted making a rude gesture, with the caption: "Cheats...

Author: /time Magazine | Title: Greece's Debt Crisis: Blaming Nazi Germany | 2/26/2010 | See Source »

...spat between the two E.U. members is evidence of the how old enmities in Europe linger. Greek-German relations have been largely friendly in recent decades, the horrors of the war papered over by the benefits of modern European cooperation. Today, 2.5 million Germans flock to Greek beaches and ancient sites each year - more than from any other country except Britain - their euros welcomed by hoteliers and restaurant owners. But beneath the friendly hospitality, for Greeks, bitter memories of the war still linger...

Author: /time Magazine | Title: Greece's Debt Crisis: Blaming Nazi Germany | 2/26/2010 | See Source »

...Magazine compared Greece to an ungrateful child and Germany to an aunt who is never thanked for her gifts. He calculated that if all the aid Germans have given Greeks was added up, since 1981, Germans have given each Greek $12,200. In return, Wullenweber complained, Greeks swindle the European Union and retire early. "You are by far our most expensive friend," he wrote...

Author: /time Magazine | Title: Greece's Debt Crisis: Blaming Nazi Germany | 2/26/2010 | See Source »

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