Funny that they didn't demand anything from from the Italians for their participation, oh wait they are broke too.
Simple answer: bargaining table.
Complex answer: What GardoneVT said.
Funny guys: LL and Roy.
Fairness leads to extinction much faster than harsh parameters.
They, like the rest of the PIIGS, provided cheap goods and services, because the Euro was the currency that "rose all boats". Simultaneously, borrowing terms are set by the Germans IIRC, so they can "help" Greece and still get repaid with the money they printed. Does that make sense?
Example: I print $100 bills, loan them to Roy and then make you pay me 5% on the loan, I get $105 I didn't have.
This is essentially how US schools have blown up with financial aid and scholarships driving "demand" and therefore driving prices up. Who wouldn't want a free education with a very low barrier to entry.
Same same with the housing crisis and liar loans.
You'd think the world's "muppets" would tear this place apart by now, but there is a huge demand for low information voters [emoji35]
Fairness leads to extinction much faster than harsh parameters.