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The Greek gov will never do any of the above. The people have tasted the socialist apple and they are hooked. Why socialism never works. You need other peoples money and Greece ran out.
"Greece’s problems really didn’t go full tilt until Wall Street banks got involved. One of the main culprits is Goldman Sachs, which enabled Greece to hide their debts. The bank charged them $300 million for the operation, a veritable payday for the massive bank. This transaction goes all the way back to 2001, the year that Greece became part of Europe’s monetary union.
The New York Times reported in 2010 that “Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece.” Goldman Sachs, JPMorgan Chase, and many others contributed to the growing Greek debt crisis."
"Greece’s problems really didn’t go full tilt until Wall Street banks got involved. One of the main culprits is Goldman Sachs, which enabled Greece to hide their debts. The bank charged them $300 million for the operation, a veritable payday for the massive bank. This transaction goes all the way back to 2001, the year that Greece became part of Europe’s monetary union.
The New York Times reported in 2010 that “Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece.” Goldman Sachs, JPMorgan Chase, and many others contributed to the growing Greek debt crisis."
Or, in more plain language...
Greece tried to keep spending more than it had, to mollify the takers.
Socialism is the problem, was the problem, and will continue to be the problem. Government cannot control an economy without disaster striking.
Socialism has nothing to do with Greece's problems. Greece is enslaved by the Euro. They cannot control their own economy without control of their own currency. Austerity destroyed Greece, and Greece just agreed to more destruction.
Greece is going to keep getting bailed out because their German slave-drivers don't want them to leave the Euro. If Greece leaves the Euro, other countries will follow. Then all those rich German bankers will lose a ****ton of money.
The EU was a scam to widen the gap between Europe's elites and the the 99%. Austerity funnels money from Greece's middle class to Germany's rich. Kudos to the Greek people for organizing. Pity their new-found leadership reneged. Looks like there is no end in sight for Greece....
No eventually they will default and leave. They can not do what Ireland; Spain and Italy have done; reform. There is little exposure market wise to Greece like in 2010.
How to fix Greece in five not-so-simple steps:
1). Leave the Euro...reintroduce the Drachma...then devalue it.
2). Cut taxes (personal and corporate).
3). Lower Capital Gains taxes
4). Cut public spending on entitlement programs
5). Increase public spending on development of new industry, tourism, and construction until the private sector demand is sufficient. From 1950-1973 Greece sustained economic growth and averaged approx. 7% throughout those years.
Just like back in the old "Greek Economic Miracle" days after WWII. It worked then...why not try it now.
They can't do that even in the EU; much less without bailout. They are not in a position like after WWII. They would be on cash only with huge import needs. They were not qualified its said to even be in EU when allowed.
When us kooks talk about the globalist-bankers trying to take over the world and turn it into a "one world government", that's exactly what this is. The bankers behind the IMF now own Greece. They ceded national sovereignty and must ask the IMF bankers for permission to order a gyro at this point. The IMF also just bought the Ukraine. They'll have Spain and Ireland soon enough too. Once they have Europe, we're next.
Greece will need to have a plan down the road, they have 4 months to make concessions. They have new leadership and austerity was decimating the country, let's see if they can reform.
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