Greek Financial Crisis

[chicoazul]

The tax evasion rate is the highest in Europe and probably amongst the highest of the world.

They also do have these crazy retirement ages and pensions when its obvious their government can't afford it - due to the tax evasion.

This Greece thing has been 20 years in the making. Or more.

In Northern Europe the retirement ages are like 68 or something.

Greece didn't make the structural reforms it needed to in the early 1990's and now its paid the price.

Italy started to wake up to this fact too.

I would like to thank the Greek Socioeconomico Expert Consultant Mr Damopolous for this assessment.

 

[Librarian]

David McWilliams
Just finished a piece for tomorrow's Sunday Business Post comparing the generous way Germany - a serial aggressor that destroyed most of Europe -was given mass debt forgiveness in 1953 and the shockingly aggressive way Greece - a peaceful country in supposedly the same community- is being treated by the EU today!! Incredible.

 

[bizzaro]

Listen here Merkel, leave Antonis and Kostas alone, those olives won't grow any faster whether the two boys are in the field watching them or in the hammock eating yogurts

You don't diversify your economy by retiring early and not paying the reasonable-taxes your law requires.


Poland. Look at Poland.

An economic giant now along the lines of Germany.

They work hard. Thats the reason.

 

[bizzaro]

I would like to thank the Greek Socioeconomico Expert Consultant Mr Damopolous for this assessment.

I'm English/British mate.

Not Greek.

 

[Librarian]

You don't diversify your economy by retiring early and not paying the reasonable-taxes your law requires.


Poland. Look at Poland.

An economic giant now along the lines of Germany.

They work hard. Thats the reason.

If they had've patented democracy, we'd owe them a fortune. We should be paying the Greeks royalties every time we use one of their formulas, they deserve a rest.

 

[bizzaro]

If they had've patented democracy, we'd owe them a fortune. We should be paying the Greeks royalties every time we use one of their formulas, they deserve a rest.

Mate. They are a warning sign of what can happen if you on occasion do not make painful adjustments to ensure long term prosperity.

Its better to make small adjustments - even unpopular ones than to have to go all in like some of what is happening now in Greece.

Think the UK 1970's and 1980's. Thankfully a once in a century type occurrence.


Thankfully the world is going through a trade rebalancing and manufacturing jobs are coming back from Asia (mainly light industry due to technologies like 3-D printing ; china going through a 'soft landing' policy etc).

However, in my mind Greece is partly itself to blame.


Ireland made massive decisions early and has reaped the rewards economically for doing so. Whilst minimising the pain.

However, certain politicians certainly deserve to be held to account for allowing massive property bubbles to develop.

Instead of ensuring the central banks and regulators had proper controls.

 

[bizzaro]

e.g. False promises from Ed Balls was also a huge concern recently rejected too. It was immoral/unethical for him as a politician to promise things he cannot deliver.

People might not like this comment. But its true.

Its better to be truthful about economics than spinning lies. Lies get found out in economics eventually.

Debt ALWAYS catches up with people. Including governments.

 

[thebluenosebolt]

Im off to corfu monday !! bloody awful timing this.

 

[Librarian]

Mate. They are a warning sign of what can happen if you on occasion do not make painful adjustments to ensure long term prosperity.

Its better to make small adjustments - even unpopular ones than to have to go all in like some of what is happening now in Greece.

Think the UK 1970's and 1980's. Thankfully a once in a century type occurrence.


Thankfully the world is going through a trade rebalancing and manufacturing jobs are coming back from Asia (mainly light industry due to technologies like 3-D printing ; china going through a 'soft landing' policy etc).

However, in my mind Greece is partly itself to blame.


Ireland made massive decisions early and has reaped the rewards economically for doing so. Whilst minimising the pain.

However, certain politicians certainly deserve to be held to account for allowing massive property bubbles to develop.

Instead of ensuring the central banks and regulators had proper controls.

Yeah but the Greeks are sound, and they're living the lives we'd all want, sleeping all day and then knocking off the prettiest ladies in Europe. As a nation, their history has earned them this luxury. We'd all be scratching our balls trying to work out triangles only for them.

UP GREECE.

 

[bizzaro]

Yeah but the Greeks are sound, and they're living the lives we'd all want, sleeping all day and then knocking off the prettiest ladies in Europe. As a nation, their history has earned them this luxury. We'd all be scratching our balls trying to work out triangles only for them.

UP GREECE.

They're broke mate.

Get in the real world.

 

[chicoazul]

I'm English/British mate.

Not Greek.

Oh sorry mate. You had me fooled for a moment there yia ti eisai malakias menos.

 

[bizzaro]

Oh sorry mate. You had me fooled for a moment there yia ti eisai malakias menos.

Sorry mate. Forgot you've literally been all round the world and know everything about anything. Ever.

Don't mind me.

 

[Azzurri]

Oh look, another thing Damo's an expert in.

 

[Librarian]

They're broke mate.

Get in the real world.

I don't like the real world, full of boring types
UP GREECE

 

[dholliday]

e.g. False promises from Ed Balls was also a huge concern recently rejected too. It was immoral/unethical for him as a politician to promise things he cannot deliver.

People might not like this comment. But its true.

Its better to be truthful about economics than spinning lies. Lies get found out in economics eventually.

Debt ALWAYS catches up with people. Including governments.

You're not wrong.

New Labour overspent during their reign, I was a beneficiary of it, as were thousands of expensive projects and hundreds-of-thousands of other people.

Nice work if you can get it...except no one seemed to pay attention to where the money was coming from and how it would get re-fueled.


Syriza seem even less clued up about such flow of monies. I cautiously support the idea of anti-establishment political parties but they must be economy-savvy.

Im off to corfu monday !! bloody awful timing this.

Ignore the strife, enjoy the life! Corfu is supposed to be gorgeous