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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (60792)2/7/2010 5:11:44 AM
From: KyrosL  Read Replies (1) | Respond to of 217544
 
I don't think so. Ireland may have the same deficit as Greece but has way less public debt relative to GDP and took very tough austerity measures early without much public protest. UK is in dire straights, but it's not in the Euro zone. Theoretically, they can paper over their problems by printing pounds, something Greece and Ireland can't do.

The new Greek socialist government announced right after it was elected last October, that the 2009 deficit will be 13% instead of 6%. This created a crisis of confidence. It was not that hard to see:

Message 26010982

I am sure that Greece is used as a tool to attack the Euro, but I doubt "the anglos" are responsible.



To: elmatador who wrote (60792)2/7/2010 5:53:23 AM
From: Golconda  Read Replies (2) | Respond to of 217544
 
Wayo with the Greeks? Sometimes it is just as simple as this, Greece is a bit of a basket case - uncompetitve, socialist mind set, deficits, debts etc. This is in no way a defence of the UK which has it's own array of problems not unlike Greece but with perhaps a little more flexibility but there is still debt, deficits and perhaps most problematic to fix though it gets less attention is the Govt share of GDP


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