The Case for Greece: When it Forgave Germany's Debt

Associated Press

By Pan Pylas and David McHugh

LONDON (AP) -- Forgiving debt, if done right, can get an economy back on its feet.

The International Monetary Fund certainly thinks so, according to a new report in which it argues Greece should get help.

But Germany, another major creditor to Greece, is resisting, even though it should know better than most what debt relief can achieve. After the hell of World War II, the Federal Republic of Germany - commonly known as West Germany - got massive help with its debt from former foes.

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