Greece and and the EU
I know Greece went in on a crap rate
But whats going on there?
The roll out of the Euro was only made possible because some very big lies were told. Chickens are now coming home to roost.
There is a danger that The Village Idiot may spend money we don't have to rescue Greece from the effects of having the Greeks in charge of their economy.
TJ will be along shortly to explain why the Euro is the bestest thing ever.
Interestingly, the Government here has yet to rule out us bailing out Greece. Like we can afford it....
I think you'll find that the govmt can actually afford it
A - they won't be paying
B - they won't be the govmt
On the plus side, Greece's economy is a teeny tiny part of the Eurozone overall, about 3% something like that. On the down side, there's no real institution to sort this out, so it'll be a fudge worked out on the hoof as usual.
There are two institutions, the EU and the ECB (bundesbank), and Greece will be saved. Call it a fudge if you want, I'll call it collective interest.
I don't know if they will bail Greece out or not. What I do know is that they shouldn't. I am Greek - I don't live there my family does - but greeks need a wake up call. Maybe left on our own devices and failing would be it?
If they bail Greece out chances are that they will do the same all over again.
If it gets to the point that they have to then they will do it because it is the reputation and future of the Euro at stake not because out of love for Greece and in any case I doubt any country will be asked to pay towards it.
An easy way to bail out greece france spain and uk (the countries of EU which economies are dead) would be to have a 0.01 % charge on every stock movement.
We could even give the reminding of the money to the UNESCO.
Now I just wait for the usual suspect to come and tell me how crap this idea is, but you dont buy a stock option and how capitalism as it is right now is such a good idea...
One of the burdens of civilisation is that we really shouldn't let other countries slide into third world style poverty if we can avoid it?
