Did you know, that 60 years ago Germany was in big trouble because of its huge post-war debt due to reparation payments after the 1st world war and then reconstruction loans after the 2nd world war and several countries including Greece and Spain decided to cancel half of Germany’s debt? It was well understood that it is in all Europe’s interest to help Germany to revitalize its economy despite all the nasty things it did in 1930s and 1940s.
Now, when Spain and Greece is in trouble, Germany would need to make a similar gesture. But, will it?
I highly recommend to read this article.