2016 Postmortem

Greece falsified the financial reports it sent to the ECB from 2000 to 2009. That's why the EU no longer trusts Greece.

That's why Schäuble is so merciless when it comes to the greek economy: No more leeway, no more goodwill, no more promises, no more favors. From now on, everything is done by the book.

Greece's economy could have been saved if the EU had been willing to accept a plan where the EU helps now and Greece promises to enact reforms later. But the EU had no trust that Greece would actually keep its word. (Would you trust somebody who lied to you for 9 straight years???) That's why Schäuble was against immediate relief and insisted on a comprehensive plan that took everything into account, but took so long to write that Greece's economy eventually collapsed.



That's what will happen to the US.

No more leeway, no more goodwill, no more promises, no more favors. From now on, everything is done by the book. Because you cannot trust anything Trump says.