Hermes wrote:Paphitis wrote:
Sorry Hermes, but Greece only has itself to blame. The richer nations of the EU and the G20 don't like it when they have to pay for this fallout, and I could swear that a bailout was mentioned for Greece even by the Aussie Government in order to keep the contagion from spreading to Italy and the banking sector. In fact it was mentioned at the last G20 meeting.
I don't see why we should pay, when we are so overtaxed already. Let Greece default. And let the banks fail.
Sorry Paphitis, but the bailouts are not for Greece. Any bail-out is for Greece's creditors: the French and German banks. Greece cannot service its debt. The richer countries are bailing their own banks out. That is the reality.
I agree that a Greek default is necessary. It would be a wake-up call and allow for re-structuring and a solution not just for Greece but for Ireland, Portugal, Spain, Italy as well as the French/German banks. They cannot keep pumping tax-payers money into propping up insolvent banks and pushing austerity programmes that are making the economic situation worse!
You know what would be a good solution for Greece other than restructuring the very country which IS necessary?
Greece should withdraw from the EU and Euro after it has reduced its debt, not forgetting that it's debts will still be in Euro. The EU is a 2 tier economy. You have France, and Germany at one end and the PIGS at the other.
Anyway Hermes, I don't see why other nations not in the EU should be called upon to help bail out European Banks or
Greece for that matter. Our Government is in for a massive backlash if it starts handing out money to Banks or Greece.
I was right. There has been quite some debate sparked from the G20 about Australia injecting cash into the Greek economy to pay debts. It was debated in Parliament by our PM and today the media are attacking the bitch. They were quick to point out that her seat is in Melbourne, which has a big Ottoman population. The media were rightly asking why should the taxpayer bail Greece out so they can still enjoy siestas, retire by 55, and still not pay tax.
I love it!
http://www.independentaustralia.net/201 ... ut-greece/