Must-Read: Thomas Piketty: Germany Has Never Repaid

Thomas Piketty: Germany Has Never Repaid: “What struck me while I was writing is that Germany…

…is really the single best example of a country that, throughout its history, has never repaid its external debt…. However, it has frequently made other nations pay up…. The history of public debt is full of irony. It rarely follows our ideas of order and justice…. When I hear the Germans say that they maintain a very moral stance about debt and strongly believe that debts must be repaid, then I think: what a huge joke! Germany is the country that has never repaid its debts. It has no standing to lecture other nations…

July 5, 2015

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