I could easily show you a Germany/Greece spread chart, comparing German bonds to Greek bonds, or German equities to Greek equities. But I’m sure you already know what that would look like.
Germany’s outperformance of the PIIGS, particularly Greece, is old news now. But, as Rodney points out, the sentiment Greeks have toward Germany is anything but old news.
Here are two charts I recently ran across. They’re published by a public opinion research company called VPRC, which conducted a survey to gauge the general feeling of people “on the ground.”
The first survey question was, “Thinking of the word ‘Germany,’ what is your main feeling?”
The second survey question was, “Do you agree with the view that Germany, with its current policy, attempts to dominate Europe through its financial
Whether Germany is attempting, through its financial power, to dominate Europe… or save it… is up for debate. Greeks obviously suspect the former.
Watch for the distrust to continue as this sticky cross-border, common-currency drama drags on.
If you haven’t done so already read the Survive & Prosper issue on “The Greek People and the Greek Government Are Committing Economic Suicide”