Have they lost their marbles?

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12 Feb 2012 - 11:00 AM

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jondf

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12 Feb 2012 - 11:46 AM

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Quote: I kind of think the best thing for Greece would be to default...

I agree. It would get everything out into the open and show the situation for what it really is. Perhaps then Greece could begin to approach matters for the way that they are rather than trying to dodge the inevitable.

mikehit (e2 Member)

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12 Feb 2012 - 9:35 PM

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I think it is ironic that you could trace this all the way back to Germany at the start of the Euro. The bureaucrats realised that France and Gemany did not meet the proposed rules on debt as % GDP and told them this. The German and French politicians realised that if they imposed the financial measures needed to meet this requirement they would have protests and probably be thrown out of power - so the politicians told the bureaucrats to mind their own business. Once that happened it was a free-for-all because there was no way Germany/ France could tell Greece, Italy et al to behave because what they were doing was no different.
Now Greece has to tackle the protests that Germany wanted to avoid.

collywobles

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13 Feb 2012 - 9:03 AM

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You cannot have a single currency unless you have a single political and economic policy. How on earth can it be right that a Greek can retire on a pension at 54 and a German at 65 - just one example - it cannot add up in the long term. income tax in Greece is seen as 'optional' ............. and now The EU Euro and UK are paying for it.