Fall of government finances (Part 1)

States cannot go bankrupt. Unlike Greece, the German government has been lining the last decades sound. The indebtedness of Germany was primarily due to the financial crisis. Causally responsible for this are speculators and certain financial instruments. Since 1800, over 250 times States refused their foreign creditors to repay its debts. At least 68 times met the same fate domestic creditors. Also overtook Germany in the 20th Century, twice the national bankruptcy. In addition, the Federal Republic of Germany is not an example of sound public finances. In its history, the total public debt has never declined. Even before the financial crisis began in 2008, the total debt of Germany stood at nearly 1.6 trillion euros. With regard to the setting of the policy of public debt, the authors therefore come to the conclusion: “At the moment it appears, however, as if the public credit, a fixed item in the annual budget of the Minister of Finance, and as if they were in the national debt in to, legal phenomenon.“