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(Yahoo)   As if Berlin does not have enough problems already, they are still on the hook for a 450 year old debt to a sleepy hamlet   (news.yahoo.com) divider line 7
    More: Asinine, Berlin, euro crisis, money back guarantee, German capital, Berliner Zeitung, Dan Pfeiffer, debts, town centre  
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10104 clicks; posted to Main » on 24 Jul 2012 at 11:19 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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Archived thread
2012-07-24 01:18:03 PM
1 votes:
They should be payed 11,200 guilders and be done with it.
rbt
2012-07-24 12:26:17 PM
1 votes:
It sounds like Berlin defaulted on the debt (didn't make expected payments) and it has a value of $0.
2012-07-24 11:47:53 AM
1 votes:
It came off their credit report in 1569 so they're probably not too worried about it.
2012-07-24 11:32:18 AM
1 votes:
Adjusting for compound interest and inflation, the total debt now lies in the trillions, by RBB's estimates.

Interest and inflation? Did the contract stipulate the debt is indexed to inflation? Because part of what interest is for is to compensate for currency fluctuation.
2012-07-24 11:29:31 AM
1 votes:
"This case shows that debts always catch up with you, no matter how old they are," Nussbaum told the Berliner Zeitung paper.

i.imgur.com

Agrees.
2012-07-24 11:29:18 AM
1 votes:
Adjusting for compound interest and inflation, the total debt now lies in the trillions, by RBB's estimates.

Why would they adjust for both interest and inflation? One is to deal with the other.

Also hasn't the German currency gone bust a couple of times since the loan was made? Sounds like trying to collect on a debt made in Confederate currency.
ZAZ [TotalFark]
2012-07-24 09:06:17 AM
1 votes:
Adjusting for compound interest and inflation, the total debt now lies in the trillions, by RBB's estimates.

Under 16th century proto-German law, do loan contracts charge simple or compound interest by default?
 
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