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The Greek debt crisis

SFG75

SFG75

Well-Known Member
Well, it looks like the country has been effectively paralyzed. I would be curious to know what everyone here thinks of the situation. I know there is some hesitation on the part of a lot of people towards bailing out Greece. At the same time, their situation can affect other nations and on that account, I wouldn't have a problem with my government and others helping them out. At the same time, these "austerity measures" are something that deeply concern me. I don't understand why they are needed. To me, it looks as if they only hurt a lot of people and work against the improvement of the general welfare of the people. The protests have been quite extreme.

So,

*Should Greece be bailed out? Why or why not?

*How should these protests be handled?
 
I think the austerity measures are there to cut back on government spending. The reason for this is so that the massive levels of debt can be bought under control. Without a currency of their own this is really the only lever the government has to control the economy. As far as I know they are being forced into it by Germany who demand that Greece conduct themselves more responsibly in exchange for the bailout money.

This really is a big big story. In hindsight it seems to obvious, but how come no one questioned the wisdom of a group of countries so economically disparate all adopting the same currency? Well, I guess lots of people questioned it. How come no one listened? I would advise all people in Eurozone countries to save up their sea shells and bottle tops, in about 5 years this is what will be used to barter for goods and services.

Very interesting times.
 
Excellent points there Christ. Predicting anything having to do with economics is like trying to make a science out of gambling. You can find articles on how thing are turning around and the gloom and doomers are all wrong. You can also find the economic "apocalypse now" crowd. I'm not certain who will ultimately be right, but I hope it's not the latter group.

Madness, it's all madness says German official

The chain of dominoes that hurts us.


As I'm typing this, the Dow is down 300......ugh
 
SFG75 said:
You can also find the economic "apocalypse now" crowd.
Click to expand...

The economy is doomed to collapse sooner or later as it is based on infinite continous growth. Thats not possible one a planet with finite resources. The question is when it happens. And there i have no clue.
 
sparkchaser said:
The Euro is back up I see.
Click to expand...
Yayness:D

The Greek government has messed up,I would like to see the Papandreous and the Mitsotakides gone.It seems these two families have been there since the begining of time.The people have money,they are not used to paying taxes and having some kind of order,it's chaos.They enjoyed the perks of a good life,took advantage of laws that they found little windows to weasle through ,and now that they have to pay for building houses where they weren't allowed to among other things,it doesn't sound good to them.

Although all this is going on,it's very hard to find tickets to go there.
 
One day you read some good news tidbits, the next day, the apocalypse is upon us. I'm not certain what to make of everything, but I'm tending to believe the more pessimistic forecasters when it comes to the economy. Here is another reason why you all should join me by the window ledge.

Economies to fold in on themselves
 
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