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GreekReporter.comGreek NewsEconomyDer Standard: Germany Owes Greece 1.5 Trillion Drachmas

Der Standard: Germany Owes Greece 1.5 Trillion Drachmas

der-standard-germany-loanThe Austrian newspaper Der Standard published an extensive article regarding Germany’s debt to Greece, mainly from the forced loan and war compensations after the 3.5-year Nazi occupation. The article is based on a confidential report which was conducted by a special working group and will be examined by the Greek Finance Minister.
Panagiotis Karakousis, head of the working group noted that his team has been researching the relevant archives for two years and have calculated Germany’s debt to Greece. Furthermore, he expressed his sorrow about the fact that many people in German are denying the losses that Greece suffered during World War II, when almost 1.4 million Greeks died or were injured.
The article also notes that the 10 billion euros which were allegedly mentioned in reports to the Special Committee of the Greek Parliament is far less than the 162 billion euros requested by Manolis Glezos who was part of the Greek revolution, and is now a member of the European Parliament.
Moreover, the article condemns Germany’s behavior, saying that it is dishonest since the country had committed to repaying its debts after its reunification. This never happened due to certain provisions that were included in the “Two-plus-four Treaty” of 1990 which prevented Greece from making any further claims for damages.
When the German President Joachim Gauck visited Greece, last spring, Karolos Papoulias, the President of the Hellenic Republic, requested that the German government starts paying Greece back as soon as possible. However, Joachim Gaouk responded that “the legal route is closed.”
Panagiotis Karakousis first gathered scattered files and found that Germany’s debt reaches 1.5 trillion drachmas, which were removed From the Bank of Greece, as a forced loan, in March 1942 by the German Reich and Italy.
Furthermore, he notes these calculations did not include the billions of drachmas that were given on a monthly basis in order to support the occupying forces. He also claims that the issue remains open, especially since Germany paid two installments after the war, which proves that the money that was taken, was in fact a loan.

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