Reply to post: Southern Europe has driven itself into the ground

Brexit? Cutting the old-school ties would do more for Brit tech world

Chris Miller

Southern Europe has driven itself into the ground

But it's their membership of the euro that ensures they can do nothing to correct their errors. And given that it takes two to make a loan, who lent them all the money? Why, that would be the German and French banks (not the British ones for a change) who saw an opportunity to make much higher interest on euro loans than they could at home, overlooking the fact that interest is (in large part) a payment to cover the risk that the loan you're making may not be repaid.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

SUBSCRIBE TO OUR WEEKLY TECH NEWSLETTER

Biting the hand that feeds IT © 1998–2019