Can somebody give me a coles notes version of what the fuck happened over there financially and what they are doing now?
I cant make any sense of it.
Facts and vaild opinions only please….no imajination
Pastor of Muppets
Greece
Some basic info here:
hard tack needs pictures to follow along. he better wait for the movie
All anyone here will have to offer are opinions as we'll have to base it off of what the news is tellin' us.
The latest solution by the great financial minds that rule the world was to print more money…
Greece was like…errrrr wait, not sure if we want to go further in debt.
rest of the world is like OMG nooooooooooooo just take the money!!!!!!
From what I have read…
Lots of the people work for state run companies and they have tons of social programs and services but no one pays taxes to pay for the services.
People are pissed because they've had it good and haven't had to work hard or pay for it. Now they're broke and they're F'ed.
Sounds like Italy and Spain will be in the same boat.
I don't understand the not paying taxes thing; I mean I hate taxes but I like roads paved and hospitals more than I hate taxes.:)
Rewoga brought up a very interesting article that is very relevant in this case (including the media blackout).
-Tax evasion is a Greek passion.
-Lazy population, too many siestas not enough productivity in the work force.
-Billions in retirement obligations the govt has to pay out.
-Took massive loans/debt restructuring to hide debt so they can get into the EU. - Thanks Goldman.
-Need to start paying back debt, not possible without significantly cutting back benefits, pensions, and putting people to work.
-Best idea that the EU has been able to come up with is to print more money and give it to Greece.
They should be left to go bankrupt and restructure, unfortunately they were allowed to join the EU thanks to some clever banking/accounting from the boys at Goldman. Now its the EU's responsibility to take care of the problem or risk losing the Euro and the Union.
Governments kept lending the Greeks money so the Greeks could buy stuff from the loaning countries. This was supposed to help the Greeks figure out ways to get money from someone else so they could in turn pay it back to the loaning countries.
This didn't happen.
Now, it isn't just that the loaning countries are looking for the money back. It's that "the markets" are recognizing the Greeks won't pay it back. Knowing other countries are counting the Greek debts as assets this negatively affects the other countries credit/financial standing. This keeps on going and going until everyone realizes everyone is poor and the world collapses.
It is kind of like the Emperor's new clothes - except everyone is naked.
Governments kept lending the Greeks money so the Greeks could buy stuff from the loaning countries. This was supposed to help the Greeks figure out ways to get money from someone else so they could in turn pay it back to the loaning countries.
This didn't happen.
Now, it isn't just that the loaning countries are looking for the money back. It's that "the markets" are recognizing the Greeks won't pay it back. Knowing other countries are counting the Greek debts as assets this negatively affects the other countries credit/financial standing. This keeps on going and going until everyone realizes everyone is poor and the world collapses.
It is kind of like the Emperor's new clothes - except everyone is naked.
This is true, the Euro Zone is already essentially insolvent. They loaned un-replayble amount of money between each other. Its ridiculous, no one wants to talk about it anymore but the world financial/banking system is a total bust. There is no realistic austerity measure left in the world that can bring this thing back from the brink.
Then of course we have us, Canada. Canadians think they are impervious to to all this world turmoil constantly regurgitating the "strong Canadian banking system" crap. The truth is, Canadian consumers are leading the way in loading up on debt. Good on you Canada, make fun of these countries in dire straits and than proceed to go out and spend a $1.50 for every $1 that you earn.
Yeah! Thats sustainable!
. Good on you Canada, make fun of these countries in dire straits and than proceed to go out and spend a $1.50 for every $1 that you earn.
Yeah! Thats sustainable!
this.
Ha Ha! Made you look.
The truth is, Canadian consumers are leading the way in loading up on debt. Good on you Canada, make fun of these countries in dire straits and than proceed to go out and spend a $1.50 for every $1 that you earn.
Yeah! Thats sustainable!
this.
It's worth noting that by far, the biggest contributor to this is mortgage debt.
It's worth noting that by far, the biggest contributor to this is mortgage debt.
what houses are overpriced for average salaries? get out of town.
Ha Ha! Made you look.
basically we should all start making pottery and spears to barter with your neighbours and to keep them from killing you.
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