Some Common Cents for July 10th 2015

July 12, 2015, by John Norris

Untitled-1_2256023kLast week, as everything was hitting the proverbial fan in Greece, I read any number of articles about how Greece had forgiven the debt Germany owed it after World War II, so turnabout should be fair play. I had not known this, but the majority of articles I read on the subject didn’t really go into just how much Greece forgave and the circumstances behind the forgiveness; only that Greece had done so at something call the London Agreement on German External Debt in 1953.

This piqued my curiosity, so I delved into the issue a little further to come up with some hard numbers. After I did so, I started wondering whether the reporters writing on the story were either financially illiterate or knowingly obfuscating the issue. Regardless, the story itself got a lot of tongues wagging on message boards, most of it anti-German and pro-Greek…Read On…

The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.