Comments by "Brand131" (@Brand131) on "Germany says "ball is in Athens' court" after Greek vote" video.

  1. Jay Stimson The interest rate on the loans are negligible, in the order of 1% to 2%. Furthermore, the money lend by the European countries isn't "created out of thin air" by them. European governments can't create money like a central bank can. They have to enter into loan obligations themselves and if Greece doesn't pay it back, then the European tax payer will end up paying for it.
    3
  2. Jay Stimson Interest payments by the government get offset by taxation. For every euro the Greek government spends on interest payments, the tax payer has to give up a euro in income.
    1