“After WWI, the austerity measures imposed on Germany lead to a massive economic recession combined with massive inflation. The deutschmark wasn’t worth the paper it was printed on. These conditions led to the rise of national socialism and Hitler. I’m not saying the situation in Greece will enable another Hitler to come to power. But, anytime there is a period of severe social unrest with no end in sight, people will flock to the strongest person who promises them safety and stability. If they wake up one morning to find that what was worth $10 yesterday is now worth 10 cents there is no stability, there’s fear and chaos. If the world wants to prevent this from happening in Greece they are going to have to step in and give them the money they need.”
Eugene Groysman interviewed by Ken Kam for Forbes Intelligent Investing, 11 June 2012.