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Message: <blockquote data-quote="rickyb" data-source="post: 5651466" data-attributes="member: 56035"><p>[USER=24302]@vantexan[/USER] the french and german banks were already bankrupt from american derivatives in 2008.  the european central bank can not bail out banks the way the american bank can.  the already bankrupt french and german banks lent 200 billion to the greeks.  so they just shifted the losses from the banks to the tax payers.  so it was money from rich western countries went to the greek govt which then went to the french and german banks.  the french and german banks were already bailed out by their govts, so it was politically unfeasable for them to be bailed out again.  and greeks debts are still unpayable to this day.</p></blockquote><p></p>