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Is it worth funding the Greece bail out packages to an economy which looks to be only heading furthe
It seems to me that the crisis in Greece doesn't seem to be improving and it certainly didn't develop overnight. Perhaps if Greece does default on it's loans, then the lenders may end up taking better control of Greece than the current government, or is that why some countries are looking to fund Greece with more money than others - so that when Greece defaults, they can have a greater control over the remaining assets...
I'm not in favor of bailing out Greece. They have to make the tough decisions and solve their own problems. Giving bailout money to Greece in no better than pouring money into a black hole or money pit. Tough decisions have to be made in Greece and only the Greeks can make them.
American working men and women should not be bailing out foreign investors and big capital in Greece. Like our own bailout, this package does not go to help primarily the majority of the people, rather it ensures the status quo can be maintained. The workers of Greece do not want to be bailed out, they do not want the government to default debt payments, and they do not want the EU and US to come in there and change everything. Rather, they would like to see an end to this government that got them there in the first place. A government that opened up Greece to reckless foreign capital and investment. Going so far as to hurt and maim her own people because they speak out against the regime; the government of Greece has lost all legitimacy in the eyes of masses there. Now is not a time to discuss footing a bill because we as Americans or sophisticated Westerners do that sort of thing. Instead, look to these protestors and activists as models of political change.
The Greek bailout is an act of futility. Think of it like this -- there are 20 other bankrupt countries with no money that just printed money to give to another bankrupt country that has no jobs, and whereupon the 20 percent of the jobs that do exist depend on taxpayers to pay the salaries of these government workers. In fact yesterday, Greek bond sales had to be halted because it was costing the Greeks 1,000 percent interest. Something like that could only destroy the country, which begs the question: "what is the real purpose behind the facade of this Greek bailout?" In my opinion it is to provide Germany greater power over Greece.
by earnestshub8 years ago
GM reckon that although they had a lousy year, the will be in profit this year and all the bailout money is to be paid back by June.There have been quite a few companies paying the bailout money back. Is this another...
by pgrundy8 years ago
Saw this in the NYT this morning:http://www.nytimes.com/2009/12/01/busin … g.html?hpwBasically, after getting billions handed to them on a silver platter, it turns out they have not been maintaining appropriate...
by Rhonda D Johnson2 years ago
What did the US use for collateral when we borrowed money from other countries?We know that the US government has borrowed billions of dollars from China, Japan and other countries. But what did we use for...
by Jen King8 years ago
NEW YORK (CNNMoney.com) -- General Motors has made a final payment of $5.8 billion to the U.S. and Canadian governments, paying off the last of its $6.7 billion in loans, the company said Wednesday."I am very...
by RighterOne5 years ago
How do you expect the Fiscal Crisis of the Euro to end?And do you think that the US and China are doomed to follow the same fate?
by Stump Parrish2 years ago
The tax cuts that are being debated in Washington have been described as a jobs creating nessessity by the republicans. These tax cuts have been in effect for 10 years now and I have to wonder where all the jobs they...
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