A big chance for Greece to take advantage of the war
As the German Handelsblatt reported, a group of British and American scientists concludes that Germany owes its economic miracle in debt haircut.
Historians of the economy are convinced that the debt haircut was decisive in helping the economically kneeling Germany to overcome the other European countries, although they have most benefited from the Marshall Plan, as a British-American group emphasised. Albrecht Ritschl from London School of Economics found that Germany owes its economic miracle, the fixed mark, and favorable fiscal position, to the drastic debt haircut.
The research team examined how the London Agreement had affected public spending and found that the debt haircut improved creditworthiness of the country. The government was able to get new loans at low interest rates, while since the start of negotiations in mid-1951 until their ending, the government bonds for ten years dropped from 3 to 1.8%. From this reduction also benefited businesses while reducing their expenses in foreign currency.
From what we know so far, the argument was supported only by the Tsipras administration to highlight that even Greece had accepted the German debt haircut back in 1953, despite that Greece didn't receive any reparation (until today) for the big damage suffered by the German occupied forces during WWII.
The question is: why now? Why after seven years of destruction of the Greek economy due to the destructive policies by its creditors, an Anglo-American team of economists officially aligned with the Greek position using the same argument to show that the Greek debt needs a big haircut?
A probable answer is that the economic transatlantic war culminates with Trump in power, and the Germans seek to create their own autonomous pole. As described already:
Merkel knows that the economic domination is not adequate for a country to become a major power. It is also important to have a strong military presence in its “sphere of influence”, or, its financial/debt colonies, if you prefer. The German military presence in Lithuania is a first step towards this direction as the Baltic countries have already become German "satellites" in the economic field.
That's why Merkel would not be probably very unhappy with Trump's statements about calling NATO an 'obsolete' alliance. Germany can use NATO as a pretext to put troops in eastern Europe, but they can stay permanently under a new European military alliance in the future.
Therefore, while Trump will be occupied with his efforts to 'lure' Russia in order to break its alliance with China, Germany may find the chance to build a third major pole between a possible refreshed Anglo-American axis and the Sino-Russian bloc, replacing the US hegemony in Europe.
It's a huge chance for Greece to take advantage of the war between the big players, in order to be liberated from the debt slavery.