RE: RE: NewsThe Greece crisis is far from over!
Many economists say that it would have been better to lead them to national bankruptcy than to bail them out. It's a small country and the EURO nations would have survived it and Greece would have been able to start over again, with support from the EU.
Here in Germany many think that what we/they are doing now just delays their decline to bankruptcy.
They need a complete repair or their finance system. There is/was just too much fraud going on over there. Their finance system has no future. The structure of their system doesn't work. What they need is a remodeling to EU standards.
And the budget cuts maybe are the right tool for the government but for the people over there, it just ruins their lives.
Of course the small people have participated in the scheme(black labor, tax evasion etc.). But how will government increase spending to strenghten the Greek economy if they cut people retirement benefits, increase taxes etc.? It won't work.
Sooner or later Greece will be forced to rescheduling. Greece won't be able to pay back the money they received from countries of the EU.
They obtainted the EURO by fraud. They faked their balance sheet. Government did. Not the people. But they suffer the most.