Plus ça change! Or if you prefer Greek, τόσο περισσότερο αλλάζει.

Albrecht Ritschl. Never heard of him I hear you say.  Perhaps not, but in an interview given to Der Spiegel he does have some interesting things to say that are very relevant to the current predicament facing Greece.

A bit of background here to give us some context, Ritschl, 51, is a professor of economic history at the London School of Economics.  But he was born in Munich and previously taught as a professor at the University Pompeu Fabra in Barcelona, the University of Zürich and Berlin's Humboldt University. All very notable places of learning.

So what’s this German professor on about?

Germany, he explains, was the biggest debt transgressor of the 20th century.  That being the case it has no right to lecture the Greeks, or its leaders should at least show some humility and be prepared to compromise when they criticise Greece.

“Germany is king when it comes to debt. Calculated based on the amount of losses compared to economic performance, Germany was the biggest debt transgressor of the 20th century.”

The collapse of the Weimar debt pyramid had terrible consequences, but after the Second World War America spent a lot of money ensuring that there was not a repeat while victors such as Britain were crippled by the costs of war.

Ritschl says: “After the first default during the 1930s, the US gave Germany a “haircut” in 1953, reducing its debt problem to practically nothing. Germany has been in a very good position ever since, even as other Europeans were forced to endure the burdens of World War II and the consequences of the German occupation. Germany even had a period of non-payment in 1990.”

The anti-Greek sentiment in German media outlets is highly dangerous, says Ritschl.

“We are sitting in a glass house: Germany’s resurgence has only been possible through waiving extensive debt payments and stopping reparations to its World War II victims.”

The Der Spiegel interview concludes with a question: “Looking at history, what would be the best solution for Greece -- and for Germany?”

Ritschl replies: “The German bankruptcies in the last century show that the sensible thing to do now would be to have a real reduction of the debt.  Anyone who has lent money to Greece would then have to give up a considerable part of what they were owed.  Some banks would not be able to cope with that, so there would have to be new aid programs.  For Germany, this could be expensive, but we will have to pay either way.  At least Greece would then have the chance to start over.”

Now, here is the interesting thing.  This interview was not conducted last week.  Oh no, it was on June 21, 2011.  Plus ça change!