Monday, June 20, 2011

I completely agree with this

Yes, coming from an America, with our own currency/debt/economic confidence problems I probably don't have much of a foot to stand on, but then again I also didn't participate in predatory lending, the sub-prime debacle, buy tons of stuff I couldn't afford then whine that I actually have to PAY my credit card bill (to use a few very loosely connected at best examples).

"Go ride a bike!"
Mayor of London, Boris Johnson said it best here, "Let reckless Greece go bankrupt and leave the euro". Bold statement yes, but sugarcoating a situation and beating a dead horse isn't going to actually FIX anything. Debt, especially in a single-currency system can be highly contagious. If Greece has this type of reaction to something necessary like austerity, whats to stop this from spreading all within the Eurozone->Pound Sterling->US/Aussie/NZ/Canadian dollar so on and so forth. I have nothing against Greece, but these protests, etc are just making it seem like not only are they not willing to shoulder their own debt and make some tough changes to help themselves, but don't really care about the welfare of the other Eurozone members who would have to fund basically their entire economy until stability grows.

I could be wrong, but that's just how I'm seeing it from what I've read.

Source ->
earlier (related) posts -> Britain 'won't bail out Greece again' says Downing Street
Europe Wrangles Over Greece
Merkel falls on sword, more Greek bailout ->

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