So thrifty Germans keep financing those lazy Greeks?

So the latest Coup bailout of Greece perpetrated by Germany (et.al.) is just more money down the drain for these lazy, Retsina guzzling Greeks, right? No matter what German paper you read and what fucking boring German TV station you watch, that is the verdict. And the ordinary German loves it and agrees in telephone polls by 90%. Prejudices want to be nurtured and want to be reiterated because that is one way to enjoy your own low-wage work life in Germany. Is there any other peoples in the world that has a word like 'Schadenfreude'?

In 'And the Greek Debt Merry-Go-Round Spins & Spins...' C. Gurdgiev has some numbers that the ordinary German is absolutely not interested in hearing let alone seen written. So here they are:

via Constantin Gurdgiev

Source: FT

• EUR29.7 billion of cash to be loaned to Greece will go to pay down the money borrowed by Greece under the privies EU lending schemes so that a merry-go-round of European policymaking can spin and spin. 
• EUR25 billion will go to the banks to cover damages done by previous merry-go-round schemes. 
• EUR17.2 billion will pay interest on past and current merry-go-round schemes. 
• EUR7.7 billion will go to the banks to cover potential runs by depositors scared of the merry-go-round schemes. 

In total, all but miserly EUR7 billion of new loans to Greece will go one way or the other to sustain unsustainable old loans.

full post here