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Just because a party calls itself "Socialist" doesn't mean it really supports socialist policies. Greece's "Socialist" party is not socialist. It's just a name.
The party is a socialist party and a member of the Socialist International,[3][4] but this has come under scrutiny by a portion of the Greek public and media in recent years, as they criticize PASOK for abandoning its original socialist principles; various factions within PASOK, such as the trade union PASKE and the student union PASP are strongly against the current PASOK government
Emphasis mine.
They are moving to the right and embracing capitalism.
Borrowing also requires a lender that is willing to make loans. That would be the French and German banks and financial institutions in this case -- for-profit banks, that is.
what is the motivation that gets the customer into the doors of a bank in fhe first place? a customer that walks into the bank to take out a loan... presumably does so to spend it
it's a spending issue. where does the gov. go when it runs out of revenues? most likely to the FED. Who buys the FED's bonds? Now its China with all that american dough they are sitting on. Like I said before, any country will fail if it spends itself to death.
There is no reason why governments need to borrow money from private banks. The most successful monetary systems in history were all debt free and government issued.
There is no reason why governments need to borrow money from private banks. The most successful monetary systems in history were all debt free and government issued.
Europe and the US were on the Gold Standard up until pretty recently, where money supply was acutally based on gold reserves. Once the intrinsic value of money was removed, it gave governments the incentive to spend a heck of a lot more.
they're actually the most successful nations in the world.
look up Norway, Denmark, sweden, germany, Great Britian, Canada.
they're MUCH better places to live than the u.s. and i would move there in a heartbeat if is wasn't so hard to gain entrance requirements
They are the best places to live you are an average do-nothing Joe who doesn't want to excel in life. Yes. Those countries are great for the mediocre and those without any dreams.
Greece is crumbling under the nanny state it's created. The promises of cradle to grave "care" by the state for the population.
They can't afford the promises they've guaranteed.
Greece has problems; Greece was not a problem to any nation other than itself until it entered the European Union and began using the Euro. Its entry gave it credit that it did not warrant, which has left European banks (esp. French and German) on the hook for a lot of money. That's the real problem here. It's the banks who are in trouble, and that's why markets are jittery.
You really need to read up more on this situation, as you are clearly uninformed. Get off the tractor and into the library.
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