The_Banker
Registered User
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Apparently Greece is €290 Billion in debt and needs to borrow a further €53 Billion this year to keep the wolf from the door.
The EU has agreed to bail out the Greek economy.
In much the same way as banks in the US were bailed out until Lehman Brothers went under are the EU not creating further problems for themselves as Spain & Portugal will now be asking themselves why they should behave in a financially responsible manner as they will be bailed out also?
Is the EU not storing up trouble for itself further down the line? The Greek government don't seem to want (or can't, under threat of civil unrest) to take the decisions that Ireland has taken, with regard to cuts.
Could this be the start of countries economies failing in much the same way that banks failed in the USA in 2008?
Personally, I don't believe the EU should be bailing out the Greeks.
The EU has agreed to bail out the Greek economy.
In much the same way as banks in the US were bailed out until Lehman Brothers went under are the EU not creating further problems for themselves as Spain & Portugal will now be asking themselves why they should behave in a financially responsible manner as they will be bailed out also?
Is the EU not storing up trouble for itself further down the line? The Greek government don't seem to want (or can't, under threat of civil unrest) to take the decisions that Ireland has taken, with regard to cuts.
Could this be the start of countries economies failing in much the same way that banks failed in the USA in 2008?
Personally, I don't believe the EU should be bailing out the Greeks.