Let’s assume that after WW2, the US had lent Germany billions so that Germany could have serviced the 3rd Reich’s debt. Would that have been “help for Germany”? Instead, Germany’s debt was forgiven and the German Wirtschaftswunder was jumpstarted with the Marshall Plan. That was “help for Germany”!
Some of the things which have been done to date have indeed been “help for Greece”. The EU Task Force would be a prime example. But to call the using of Greece’s balance sheet (and tax payers’ money) to bail out banks is everything but help for Greece. Most of the charade we have seen so far is nothing other but a recycling of money.
The real trouble is the difference between Germany/Germans after WW2 and Greece/Greeks today. After the disaster of the Nazi-era, one could be fairly sure that whatever jumpstart-help one would provide for Germany, the Germans would use it wisely. In Greece, unfortunately, it is very difficult to imagine that jumpstart-help would be used wisely. Realists would argue that much of it would quickly land in private accounts in Switzerland.
Here is the problem. How can one invest new funds wisely in an economy which has the lowest EU-rating as regards the ease of doing business (World Bank) but the highest EU-rating as regards corruption (Transparency International)?
Nevertheless, without new investment, primarily new foreign investment into the private sector, Greece will soon be a political powder keg at the EUs Southeastern corner. That can’t be in the interest of the EU, either.