Posted on 12/05/2016 1:30:38 AM PST by Berlin_Freeper
Greece must implement economic reforms if it is to keep its place in the eurozone, Germany’s finance minister has insisted, ruling out debt relief for the country ahead of a crucial euro group meeting on Monday.
As the finance ministers of member states using the single currency prepared to discuss fiscal plans for the coming year, Wolfgang Schäuble in effect presented Greece with an ultimatum: either it must enforce unpopular structural reforms or exit the bloc.
(Excerpt) Read more at theguardian.com ...
s/below/blew/
Here we go again with this hokum. Greece isn’t going to change and the EU won’t do anything about it except throw more money at them.
A huge part of that money went to Italian, French and some German bank to bail them out because of the bad debts with bad investments in Greence. Now these banks are safe Greence can be kicked out.
The Greek debt cannot and thus will not be paid.
The whole world needs a giant debt jubilee IMO.
Tax hikes and budget cuts is the wrong approach. They need to cut tax rates, fix their infrastructure (which I am reading is pretty poor) and move away from the welfare state because that incentivises people against working.
Corruption seems to be a BIG problem in Greece. That is almost like a major tax on the economy (imagine if Hillary got in and everything in the economy was based on pay for play!). They will need to ‘drain the swamp’ and debureaucratize. Simply cutting the bureaucracy and not changing the culture won’t work. You just end up with poorer bureaucrats
So do it now.
What about all of our debt? It is a big mess!
They will need to ‘drain the swamp’ and debureaucratize. Simply cutting the bureaucracy and not changing the culture won’t work.
You just end up with poorer bureaucrats
They should follow the Iceland example...let it all crash...let the banks go bust...fire all the politicians and bureaucrats.
Start over.
Who put the krauts in charge? Shouldn’t these opinions come from Brussels? And Germany never repaid the forced loans it demanded from the Greek government in WWII. Tell em to take a hike.
We have obligations (debts) that will never be paid because they cannot be.
We are temporarily afloat because our fiat currency is the world reserve currency.
One way or another we must declare bankruptcy and find a way to start over.
Those that hold things of real intrinsic value are the only ones that will be solvent someday soon.
Gold and silver are the inverse of fiat currencies... China and Russia know this and have been preparing.
There are no longer any real markets as they bear no relationship any longer to common sense rules like PE ratios.
Houses of cards get blown down by the wind.
War is the usual result of the sort of financial mess the world finds itself in today.
Prepare yourself!
Trump will be blamed when it all goes south, if Hillary had won then war would have been the scapegoat... probably war with Russia.
Trump is now the obvious one to take the blame... the bankers do not want to have the fingers pointing at them.
vi rules !!!
Down the road, places like Greece will be the only ones left in the EU....then who they gonna call-—Cost Busters!
Gee, that’s terrible...After you leeches fed off their corpse...
What about the entire Greek islands that have become holding tanks for muslim migrants? Who is paying for that?
The only Greek isle with substantial refugee presence is Lesbos (roughly 15 miles off the coast of Turkey). Those camps are sponsored via EU money. A handful of camps exist on the mainland of Greece....same deal...EU money. The Greek Red Cross might be helping in some ways...but it’s all outside money covering the expenses.
The hotels and resorts on Lesbos are fairly hostile about this mess because they’ve lost about half of the traditional tourism (2016) that they’d have. The rest of Greece is doing fairly well...taking up all the European tourism that quit Turkey.
vi rules !!!vi? Bah, ex!!
The EU is shrinking as pieces break off.
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