If there was true German mercy nobody would doubt the Spaniards capabilities to pay back, at least not until Germany's own credibility is put to question.
The difference is that US debt is denominated in a currency that works in a monetary zone with stable political underpinnings and a sufficiently strong federation. It's not more trust in the US economy that creates the lower US interest rates, it's more trust in its political system.
The difference is that US debt is denominated in a currency that works in a monetary zone with stable political underpinnings and a sufficiently strong federation. It's not more trust in the US economy that creates the lower US interest rates, it's more trust in its political system.