Athens in flames after passage of austerity measures

[Unbeliever]

Context:
Respite for the Euro: Greece Dodges Insolvency by Passing Austerity Package - SPIEGEL ONLINE - News - International

All is not well in Europe..

 

[Vassnti]

All is not well in Europe..

All is not well in the parts of Europe that think being in the EU is some sort of free ride. Greece has been fidling the books for years so people can retire from their cushy goverment jobs at 60 on a big pension.

They never had the money to pay for it now they would rather riot in the streets than admit they spent their money and that of their children and grandchildren for an easy life that one day had to end.

The Euro farce has to end countires like the UK, Germany and the Netherlands are getting sick of paying so Italians, Greeks and Portugese can sit on their posterior all day.

 

[Developereo]

The entire rationale behind the EU was to form a power block to counter US and Russian dominance. Some might say it was a last-ditch temper tantrum by France and Germany to try and regain some semblance of global relevance. Britain has always been half-hearted due to their historical deep ties with the US.

In any case, France and Germany made their bed; now they have to lie in it.

 

[Mosamania]

Oh look riots become the new cool thing to do I guess....Oh the Arabs and their negative influence on the world

 

[jha]

Yeah..Dont pay tax and keep enjoying the free ride...

 

[InFn-0]

Seems like riots are absolutely the coolest new in thing. haa haa haa

 

[lynx]

I heard that the external debt of Greece is 150% of its GDP. How the hell Greece is going to get out of this sinkhole?

 

[InFn-0]

I heard that the external debt of Greece is 150% of its GDP. How the hell Greece is going to get out of this sinkhole?

Check this out,

List of countries by external debt - Wikipedia, the free encyclopedia

News Headlines

You will be very surprised. So this is where all the money for pensions and healthcare comes from...

 

[Bhairava]

The Euro farce has to end countires like the UK, Germany and the Netherlands are getting sick of paying so Italians, Greeks and Portugese can sit on their posterior all day.

Is UK in the financial union , eurozone ?

The only solution is the Euro (Not EU as a political grouping) should be discontinued and every nation getting back to its own currency.

I dont know for how long the French and the Germans will keep supporting this ailing currency at the cost of their prosperity.

The Euro was a flawed policy from the beginning.

 

[twoplustwoisfour]

Check this out,

List of countries by external debt - Wikipedia, the free encyclopedia

News Headlines

You will be very surprised. So this is where all the money for pensions and healthcare comes from...

Look at it as a % of GDP, a real eye opener. No wonder countries like the UK are having to take austerity measures.

@Gounder: The concept of Euro is fine if the participating countries have equivalent economies. Having developing nations in the Eurozone is just not feasible.

 

[lynx]

Is UK in the financial union ?

The only solution is the Euro (Not EU as a political grouping) should be discontinued and every nation getting back to its own currency.

I dont know for how long the French and the Germans will keep supporting this ailing currency at the cost of their prosperity.

The Euro was a flawed policy from the beginning.

Better kick out the lazy a$$es from EU. The French & Germans should not allow some others to have Siestas at their expense.

 

[lynx]

Check this out,

List of countries by external debt - Wikipedia, the free encyclopedia

News Headlines

You will be very surprised. So this is where all the money for pensions and healthcare comes from...

India have only 15% of its GDP as external debt

And yet some opposition parties especially the communists make a lot of noise when GoI decided to approach IMF or ADB for loan.

US has the highest external debt forming 95% of the GDP and yet some posters here are behaving as if the sky has fallen. By that theory countries like UK, Austria, Australia,Ireland etc will fall before US.

 

[Abii]

Check this out,

List of countries by external debt - Wikipedia, the free encyclopedia

News Headlines

You will be very surprised. So this is where all the money for pensions and healthcare comes from...

lol @ luxemburg
three thousand plus percent!!!!!!
GB @ 400 percent

Iran is at 4 percent lol

 

[Bhairava]

@Gounder: The concept of Euro is fine if the participating countries have equivalent economies. Having developing nations in the Eurozone is just not feasible.

My post is meant to the current scenario whereby there are huge disparities in the participating economies.

 

[InFn-0]

lol @ luxemburg
three thousand plus percent!!!!!!
GB @ 400 percent

Iran is at 4 percent lol

In fact the figures in wikipedia page is from 2005. And without a doubt i can assure you that figures have worsened for western countries significatly during the last 6 years.