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Post by seventeen on Jan 25, 2015 16:38:13 GMT -5
Looks like the left is winning big in Greece. I suspect they need stimulus rather than austerity, but Socialist parties often don't understand the meaning of stimulus and the Euro itself may hobble them. If they try to negotiate away their debt and refuse to pay, I can't see how they're going to stimulate anything. Who will buy their bonds? Who will invest in their markets? I wish them fiscal success, and it will be interesting to see how they try to achieve it. (If they do). www.bbc.com/news/world-europe-30975437 |
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Post by Cranky on Jan 31, 2015 15:56:18 GMT -5
That's what I have been involved the last month or so. Wrote some "generic" English articles for one of the political parties.
In a nut shell. Greek voted for a far, far left party that is run by a guy who was a Communist Youth Party leader. They voted themselves not to pay the debt (that was already reduced and gets fantastic rate %) and get back the fat pensions and government jobs. In fact, the new party will hire even MORE to fat government dig-a-hole jobs. Where are they going to get the money? By stripping the military, anyone who is richer then themselves and borrow more money.....they wont pay back.
And get this, he is also going to bring "balance" to European foreign policy by siding with Russia. No. I'm not kidding.
If I believed in God, I would start praying for Greece because this is not going to end well.
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Post by Disgruntled70sHab on Aug 1, 2015 9:57:57 GMT -5
It's important not to blame the Greek people ... Spain, Italy, Portugal and France are headed in that direction, too ... the US debt is in a bubble ...
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Post by blny on Aug 1, 2015 10:28:35 GMT -5
Spain is royally screwed, and has been for some time. There are entire communities that are vacated. Condo communities that were built on or around the 2008 crash are empty.
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Post by seventeen on Aug 1, 2015 11:27:48 GMT -5
Buying opportunity?
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Post by Disgruntled70sHab on Aug 1, 2015 12:15:16 GMT -5
... I learned of PIIGS a few years ago ... here's their debt by country ...
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Post by franko on Aug 1, 2015 13:10:13 GMT -5
OK, how can countries owe each other money. wouldn't the debt just be lower?
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Post by duster on Aug 2, 2015 15:55:46 GMT -5
Economics aside, the Greeks have not exactly been conciliatory or even humble about all this. From what I understand from some German friends, opinion in Germany in less than generous towards Greece in particular. Perhaps it didn't help when some Greek politicians suddenly claimed they actually owed Germany nothing because they weren't compensated enough in the 1960s for Nazi occupation during the Second World War. Threatening to let the Russians set up a naval facility on the Med didn't help either with Greece being a member of NATO and all that. Good luck asking for more money from Merkel. She'd be in trouble in her own country if she helps Greece again.
It's not just Spain and Portugal. In some areas of France, there's plenty of abandoned houses and villages. People are moving to Paris or Toulouse since there's no work anywhere else. It's the same in Italy where the disparity between North and South is getting much worse. For the euro to be sustainable, there are some hard choices ahead.
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Post by Disgruntled70sHab on Aug 2, 2015 18:38:47 GMT -5
Economics aside, the Greeks have not exactly been conciliatory or even humble about all this. From what I understand from some German friends, opinion in Germany in less than generous towards Greece in particular. Perhaps it didn't help when some Greek politicians suddenly claimed they actually owed Germany nothing because they weren't compensated enough in the 1960s for Nazi occupation during the Second World War. Threatening to let the Russians set up a naval facility on the Med didn't help either with Greece being a member of NATO and all that. Good luck asking for more money from Merkel. She'd be in trouble in her own country if she helps Greece again. It's not just Spain and Portugal. In some areas of France, there's plenty of abandoned houses and villages. People are moving to Paris or Toulouse since there's no work anywhere else. It's the same in Italy where the disparity between North and South is getting much worse. For the euro to be sustainable, there are some hard choices ahead. I ran into two German lads in Cuba and they echoed what you're talking about, Duster ... they got pretty emotional when we started talking about Greece ... they called the Greek government liars and they didn't want to see their government bail out Greece again ... they were fed up ... as an aside, there's a lot of debt here at home nowadays, too ... that's another thread though ... Cheers. |
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Post by Cranky on Aug 2, 2015 20:01:14 GMT -5
I can't find the words to express my hatred of these effen commie clowns. They have taken a country that was a economic mess and turned into shambles. It's now turned into Mogadishu...without the violence....so far.
Do you guys know that the commie clowns are actually showing WW2 video in the subway to promote hatred against Germans? I wish I was making this up but I saw it with my own eyes. They are spitting on EVERYONE for not giving them free money. Lorts of free money. Because Greeks deserve lots of free money. The minute a foreign politician says that they support Greek gimme'mo'money, they are applauded by the state broadcaster and given a royal a-licking from the first commie politician they meet, but the minute any politician says that Greeks need to own their failures, they become "Nazis" and child eaters. Anyone who disagrees with the lies and propaganda is a "traitor" and an evil German collaborator. I kid you not, I was called a "traitor" for questioning a pension system that allowed hairdressers to retire at 50 because their job was "hazardous".
I was always making excuses that the clowns were not really supported and only a minority 26% of eligible voted for the clowns, then, when they had their referendum, 61% vote NO to any more "austerity". Just give plenty of money, thank you very much. Then eff off. Thank you very much.
Greece is a mess, a non functioning economy and on the verge of social strife...and for the first time in my life, I'm going to say that they deserve every misery they heaped on themselves.
The best thing that Greeks can do and the first step.....is take the lying, conniving commie clowns and string them with a thick rope from a stout tree...then burn the corpses to get rid of the virus. But they wont. Because the majority snort the cocaine lines of lies and bullsh!t the commies are selling them. Willingly.
There is a lesson for us too. Beware of politicians who tell us what we want to hear.......
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Post by Disgruntled70sHab on Aug 3, 2015 11:02:45 GMT -5
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