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funny how it was a Conservative govt. that caused this mess though, absolutely nothing Red about it.
it seems to me that the people were happy to go along with the free ride of EU cash, but when they have to pay their debt then they are all up in arms about it.
Yet, they vote in these Conservative cronies!
whose fault was that?
Conservative does not have the same meanings in other countries.
Try "greedy and willing to turn a blind eye" as your description and that will universally fit all the countries that rode the bubble and let the debt accumulate.
Well they are looking at Plan B and are considering nationalizing people's pensions which would give them about $3 billion Euros. And still implement that tax on savings only at a smaller rate.
And banks will stay closed until next week.
Who would have imagined that a government would do that to their people all because of sovereign debt ?
As I understand, money from pension plans will be reimbursed some time later, right? It is more like loan, not theft.
How's Argentina doing with their nationalized pensions ? Once they took over the pensions they got to control the payouts. They did a 20% reduction of benefits to keep the money from flowing out so quick.
What about people retiring this year or next ? Do they have to wait ?
Tey are al;so tali king to g Russia for anther loan .I find it kind of strange that protesters are on streets with Merkel photo made to loo like Hitler. merkal dod not create the situatio nor di she propose the tax on bank accounts. that was done but eh same polticians the voters put i office that caused this problem of no growth and then found that the accounts tax was one of few ways out of the mess created by voters putttig such people in opffice.Afterall most of the 10Billion Euro bialout comes form geramn taxpayers. They do not have to accept any bailout.What ahppens whe you vote for people who promise what they can't really provide like in alot of europe. They never learn from the socialist recent collapses of the past just vote for free stuff regardless;it seems.
People from all that countries blame Germany because it was the main (together with France) winner from euro project. When countries with weak economies started euro, their ability to get loans at lower % hugely increased. German &French banks gave them money with condition that they will buy German &French products, not always needed, instead of development of the national economies. Sometimes even big bribes were given to politicians (its known about Greece in particular) by large companies (e.g. Siemens). And now, when the countries cannot repay their debts to German banks, Germany puts austerity measures on the whole nations. Of course, a lot of guilt is on the Greek et al. politicians who also plundered the loans.
I realize, austerities are necessary sometimes, but without structural reforms of weak economy, they will give just negative effect on both the economy and average people lives.
People from all that countries blame Germany because it was the main (together with France) winner from euro project. When countries with weak economies started euro, their ability to get loans at lower % hugely increased. German &French banks gave them money with condition that they will buy German &French products, not always needed, instead of development of the national economies. Sometimes even big bribes were given to politicians (its known about Greece in particular) by large companies (e.g. Siemens). And now, when the countries cannot repay their debts to German banks, Germany puts austerity measures on the whole nations. Of course, a lot of guilt is on the Greek et al. politicians who also plundered the loans.
I realize, austerities are necessary sometimes, but without structural reforms of weak economy, they will give just negative effect on both the economy and average people lives.
Yes, austerity is just treating the symptoms and not the disease. Both need done but we see all around the world (for the most part), the exact opposite is being done.
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