which does not alter the fact that Greece's debt is inherent to it's populace, not a product of poor governance (though that certainly has made matters much much worse).
LOL it is poor governance lol.. seriously have you even followed what went wrong? The Conservative Greek government LIED to the world including their own people and American banks and financial institutions helped them in hiding the truth.. that their deficit was much larger than reported and they had off the books debt .. thanks to J.P. Morgan and Co.
you can't bail out Greece - and she's hardly the only one in her situation; merely the first. which is why I stated that at some point either the strong nations will leave the EU, or they will kick the weak ones out.
Again you have zero understanding of the situation. Countries will always have debt.... even China has over 30% debt... You can not run a country without debt, just as you cant run a company without debt.
Now Greece committed fraud, pure and simple and will ultimately pay for said fraud. It was the political elite (mostly right wing) and the banking sector that committed said fraud and not the Greek people and that is why the Greek people are rebelling against the sitting socialist government that is trying to fix the problem.
The other countries in Europe also have debt.. but unsustainable? With the exception of Ireland and maybe Portugal, hell no.
So freaking what if Italy has 125% debt vs GDP? They have had it before and frankly have not been under 80% for many many many decades. That debt is majority owned by... the Italian people! Italy is a massive economy, one of the worlds biggest exporters and has a ton of potential considering the structural problems hampering growth. Fix those problems and watch Italy go.
Now I ask you this.. what countries other than Greece, Ireland and Portugal, have "debt problems"? France? Germany? UK? Denmark? Belgium? Holland? Austria? which ones?
:lol: the problem is definitely Greece, but it's where the Greeks decided to vote themselves lavish entitlements, insane leisure, and then not have any kids to pay for it all.
You and your ****ing entitlement ****. It is a load of horse crap that is deflecting away from the real reasons.... lax tax collecting. You cant cut your way out of a problem like this (and the US deficit problems) but need to up your income. And in Greece's case, the tax collecting system is pathetic and can be compared to Somalia's. But as long as the Greek people are royally pissed at the political elite and the bankers, then they will not cooperate one bit in fixing their economy as long as it is the "usual suspects" running the show.
And like it or not, NO European will ever vote in anyone that wants to turn their country into the heartless ME society like the USA. Yes we want our UHC, and pension systems and so on and are willing to pay for it and do pay for it.
Now if it had not been for your countries cluster****ing the world economy in a debt fuelled decade, then we would not be discussing European "debt problems"... considering debt levels with a few exceptions have not gone up that much the last 5 years let alone the last decade+. That is the dirty little secret in all this... why is it that sovereign debt is now all of a sudden a huge problem when it was not 20 years ago when the debt levels were similar... could it be that it was European's who outed your little pyramid scheme?
So answer me... why is it suddenly a problem? Is it reality, economically or maybe... is it all just political? Wanna bet that the problem goes away when and if the GOP wins the White House? After all it was Cheney who laughed off deficits and debt ....