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Why is it that places like Greece, Italy, Spain and son on, even Ireland are so damn messed up? But; why in the hell are Germany, Sweden, Netherlands, Denmark, and even Poland all seem to be doing Ok in 2015?
Why is it that places like Greece, Italy, Spain and son on, even Ireland are so damn messed up? But; why in the hell are Germany, Sweden, Netherlands, Denmark, and even Poland all seem to be doing Ok in 2015?
Why is it that places like Greece, Italy, Spain and son on, even Ireland are so damn messed up? But; why in the hell are Germany, Sweden, Netherlands, Denmark, and even Poland all seem to be doing Ok in 2015?
The latter did a better job getting what they wanted out of the ECB when it was formed then the former did.
Cyprus is not allied with Greece, but they have a lot of similar problems
It is not enough with similar problems, because if ND won the election then everything would go on as normal.
In Cyprus, a mainstream conservative party is in power. They will keep Cyprus out of the headlines, and EU will support Cyprus if needed.
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A Grexit goes beyond Greece's share of the economy and highlights the underlying problems of the Eurozone not to mention contagion. Problems in Greece will spread through Southern Europe just like they did last time as people reasses Spain Italy and Portugal.
If that is the case, how come their bond yields are at 1-2%? In 2012 Spain bond yield was 7%.
How exactly do you think it will happen? Bond yields can be defended, Greece hasn't been paying their debt anyway, and there are no countries who want to follow in Greek footstep.
Why is it that places like Greece, Italy, Spain and son on, even Ireland are so damn messed up? But; why in the hell are Germany, Sweden, Netherlands, Denmark, and even Poland all seem to be doing Ok in 2015?
Its not that black and white. Ireland is doing better than Poland, and Sweden is not as good as it was. Italy has been slow to do reforms, and Spain had a massive construction bubble.
However, you are right that Greece is totally messed up. The culture in greek is quite toxic, they want the benefits of a welfare state, but they don't want to pay for it. While in Estonia or Latvia it wasn't a big problem to cut wages, it led to huge scale riots in Greece. What for? You need to cut somewhere if you have a massive budget deficit. The fact that Greece had to be dragged by EU or the market to do reforms or cuts, really hurt Greece.
You keep writing this over and over but have you ever thought how the new currency would stack up against other nations currency? you know the exchange rate. And if Greek currency is nearly worthless how does this make it better for their citizens?
Simple. They'll live within their borders and limits. Tourism and exports will get a tremendous push. (Once Greece was a heaven for tourists). They will have problems importing, but Greece have to accept that if they reject the austerity measures imposed by the EU.
However now, their government is free to adjust interest and exchange rates as they wish!
In Cyprus, a mainstream conservative party is in power. They will keep Cyprus out of the headlines, and EU will support Cyprus if needed.
Very tenuously in power with a Communist party just 1 seat behind them in the last legislative election. That could easily change with an election around the corner.
Its not that black and white. Ireland is doing better than Poland, and Sweden is not as good as it was. Italy has been slow to do reforms, and Spain had a massive construction bubble.
However, you are right that Greece is totally messed up. The culture in greek is quite toxic, they want the benefits of a welfare state, but they don't want to pay for it. While in Estonia or Latvia it wasn't a big problem to cut wages, it led to huge scale riots in Greece. What for? You need to cut somewhere if you have a massive budget deficit. The fact that Greece had to be dragged by EU or the market to do reforms or cuts, really hurt Greece.
It was a huge deal in Estonia and Latvia. Just instead of rioting people voted with their feet and left for Western Europe. Latvia has lost almost a quarter of its 1991 population, and Estonia is also in decline and both are still losing prime working age people. Both Baltic states are in deep trouble because they now have some of the worst inverted population pyramids in the world and are staring down all the associated problems.
Is Greece right to ask for reparation for Nazi Germany occupation during WWII ? Why or why not ?
Who's next ?
Greeks have already taken their reparations from Germans.
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