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And of course tax the banks. So private bonholders are supposed to bail out the wild spending of greece along with taxes on banks that will be passed on to private citizens.
There is no crisis.
You have to remember that the head of the EU (Barossa) is from Portugal.
Naturally, he is going to whine and cry like a 2-year old about Greece because he wants to ensure Portugal gets some too, because Portugal is one of 11 countries on the verge.
You have to keep things in perspective. Greece is 11 Million people with a GDP of $350 Billion and they borrowed $100 Billion.
That is 0.625% of the EU GDP.
If only the US National Debt was 0.625% of its GDP (and by the way that would put the US National Debt at $92.5 Billion).
Anyway, all 11 countries could default and it wouldn't amount to nothing.
Come on Germany, grow a pair. Tell Greece and all the other wild spenders where they can stuff it. Boot em out of the Euro or ditch the Euro yourselves and bring back the D-Mark.
Location: In a Galaxy far, far away called Germany
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The irony here is that these banks might be taxed more due to the money that is owed to them by Greece. Maybe the banks ought to learn a lesson here and NOT give loans to countries unless they want to actually get their $ back by having to pay more taxes..... paying with the left hand only to get that same $ handed back to them in their right hand.
And of course tax the banks. So private bonholders are supposed to bail out the wild spending of greece along with taxes on banks that will be passed on to private citizens. Yep riots coming when they realize this mess they're being dealt.
Who is going to riot? bond creditors? hah.
in hindsight the germans were naive to lend to greeks. so now, what are their other options? repossessing the parthenon?
You have to remember that the head of the EU (Barossa) is from Portugal.
Naturally, he is going to whine and cry like a 2-year old about Greece because he wants to ensure Portugal gets some too, because Portugal is one of 11 countries on the verge.
You have to keep things in perspective. Greece is 11 Million people with a GDP of $350 Billion and they borrowed $100 Billion.
That is 0.625% of the EU GDP.
If only the US National Debt was 0.625% of its GDP (and by the way that would put the US National Debt at $92.5 Billion).
Anyway, all 11 countries could default and it wouldn't amount to nothing.
It would amount to the entire house of cards collapsing is all. Probably best for everybody. Get it over with instead of kicking the can down the road on the backs of others. Right now we take two steps towards the cliff and they shuffle and take one step back. The cliff still keeps getting closer no matter how much shuffling the dealers do.
It would amount to the entire house of cards collapsing is all. Probably best for everybody. Get it over with instead of kicking the can down the road on the backs of others. Right now we take two steps towards the cliff and they shuffle and take one step back. The cliff still keeps getting closer no matter how much shuffling the dealers do.
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