I'm not greek but it is all over the news in Ireland.
Greece is doing very bad right now with their economy and all the rest of Europe have to bail Greece out so as to stimulate the Euro. We in Ireland are also suffering through a massive deficit and instead of asking other countries for help we have set up an organisation to help us called NAMA(National Assets Management Agency). As far as i know germany is giving Greece over 4 billion euro and Ireland is giving something like 1.5 billion.
Greece is in this state for numerous reasons:
Source: ABCNews.com & other various newspapers
A number of factors led to Greece's economic disaster. For more than a generation, Greece has been lax over its spending, paying out salaries on the government dime, with huge holiday bonuses.
Greece came out of a Fascist Dictatorship in the 1970'ies and immediately several Political Parties were established.most of them had the best for the country at heart but a system of corruption and the few privileged had taken so deep roots that nobody could really exterminate it and each Government saw itself obliged to give in to pressures from the very rich families,who held the economy of the whole country in their hands.
Everything from Health-care to Housing and Banking to Business-Licences is a matter of giving money and knowing the right people..Tax paying has been almost unknown to the guys with the big bucks and only the people with a fixed salary have been paying,the rest has been cheating as a matter of principal.The recent International crisis has made things worse of course.
The last 8 years by a Right Wing Government have been so disastrous that the country is totally broke. This of course has been hidden from the population till they got the wake-up call from the E.U. Many employees were paid as though they'd worked a 14-month year, instead of 12. That extra money gave many Greeks a road to early retirement, for some even in their 50s.
Now the greek government has started to put in huge tax hikes and drastic spending cuts in attempt to restore the economy. I don't like thsi one bit as the greek president said weeks ago that the greek people would not take a pay cut like the irish have(dick) & now he does the paycuts and what did he expect would happen? Now there is widespread rioting in the streets of greece. Today the protesters, angered by what the government has done went on a 24-hour strike. Flights to and from Greece were grounded as employees walked off the job. Protestors set the finance ministry ablaze and threw gasoline bombs into a bank. Three people died inside before firefighters could reach them. The crisis is affecting markets far from the packed streets of Athens, even in the United States. On Wall Street, stocks slipped today over concern that Greece's debt crisis could spread to other European countries.
My question is do you believe Greece deserve to be bailed out by other European countries such as Germany, (that if they give the money other countries may also want to be bailed out by Germany) & Ireland amongst others or should they find a solution to their own problems?
I do not mean to offend anyone in this thread and if i do I apoligize
Greece is doing very bad right now with their economy and all the rest of Europe have to bail Greece out so as to stimulate the Euro. We in Ireland are also suffering through a massive deficit and instead of asking other countries for help we have set up an organisation to help us called NAMA(National Assets Management Agency). As far as i know germany is giving Greece over 4 billion euro and Ireland is giving something like 1.5 billion.
Greece is in this state for numerous reasons:
Source: ABCNews.com & other various newspapers
A number of factors led to Greece's economic disaster. For more than a generation, Greece has been lax over its spending, paying out salaries on the government dime, with huge holiday bonuses.
Greece came out of a Fascist Dictatorship in the 1970'ies and immediately several Political Parties were established.most of them had the best for the country at heart but a system of corruption and the few privileged had taken so deep roots that nobody could really exterminate it and each Government saw itself obliged to give in to pressures from the very rich families,who held the economy of the whole country in their hands.
Everything from Health-care to Housing and Banking to Business-Licences is a matter of giving money and knowing the right people..Tax paying has been almost unknown to the guys with the big bucks and only the people with a fixed salary have been paying,the rest has been cheating as a matter of principal.The recent International crisis has made things worse of course.
The last 8 years by a Right Wing Government have been so disastrous that the country is totally broke. This of course has been hidden from the population till they got the wake-up call from the E.U. Many employees were paid as though they'd worked a 14-month year, instead of 12. That extra money gave many Greeks a road to early retirement, for some even in their 50s.
Now the greek government has started to put in huge tax hikes and drastic spending cuts in attempt to restore the economy. I don't like thsi one bit as the greek president said weeks ago that the greek people would not take a pay cut like the irish have(dick) & now he does the paycuts and what did he expect would happen? Now there is widespread rioting in the streets of greece. Today the protesters, angered by what the government has done went on a 24-hour strike. Flights to and from Greece were grounded as employees walked off the job. Protestors set the finance ministry ablaze and threw gasoline bombs into a bank. Three people died inside before firefighters could reach them. The crisis is affecting markets far from the packed streets of Athens, even in the United States. On Wall Street, stocks slipped today over concern that Greece's debt crisis could spread to other European countries.
My question is do you believe Greece deserve to be bailed out by other European countries such as Germany, (that if they give the money other countries may also want to be bailed out by Germany) & Ireland amongst others or should they find a solution to their own problems?
I do not mean to offend anyone in this thread and if i do I apoligize
