Market Meltdown, Dow crashing!

[Netyaroze]

I remember last year I was flying from Cyprus to Munich. With a stop in Athens and as we arrived in Munich our plane actually stopped not on the gate . there was a red carpet and on the sides there were dozends of policemen. And the captain told us we had to wait. So actually the guy 3 seats in front of me was the greek president and his wife.

Our high politicans fly with non-public planes. So I was pretty impressed that the greek president used a standard airline.

Politicians are mostly not just after money. In the privat industry you can earn 10 times 100 times or 1000 times (or even 10000times) more. Our Chancelor earns less then the father of a friend which is leader of a local healthcare insurance.

If you put that into perspective with the billions of dues greece has its insignificant. As far as I have seen it the infrastructure and the average life quality improved a lot in the last 20 years.
The money ofcourse went also to some politicians but also for the average greek person they dont feel that way because it was a slow progress not everything what has improved was because of the economy growth. The economy just didnt grew as fast as the dues. Combined with the ability to make more dues because of the Euro (which is a mayor benefit for poorer countries with the euro you have access to way bigger credits since the stabilty of the currency is way bigger then the stabilty of the former currencies)

Its not efficent to blame people even if they have more fault then the average greek person. Now everything should be changed and done right so it cant happen anymore its senseless to complain the damage is done and there is no way back, the greek government and the greek population has to pay the bill and even million protests cant change that it lies in the hand of whole europe now its not a national problem anymore. European countries have to help greece if they wouldnt the whole greek economy would collapse and affect the other countries too. But they gave their money not without some demands and those demands have to be executed by the greek government no matter which party has the power


The whole system is dangerous for countries without the right sized economical backbone. Its easy to get in the vicious circle of making dues to pay other dues. But its only working aslong as your economical growth is atleast as big as the growth of your dues. And not all countries can allow themselfs to do that. Its not just a greek thing. Island on the other hand went actually bankrupt. Also Hungary had problems and other south european countries.


The system is wrong a lot of countries get credits even though everyone knows its to much they cant pay it back. But since they know that the poorer countries are backed up by middle and north europe they give them more and more credits and the governments of the poorer countries just have to take the credits because if they wouldnt do it there would be protests
and they wouldnt be reelected. So they take everything what they can get.


The system has to be changed we need an european rating agency which could give alternative ratings and the banks should also show some responsibility. Actually some of the banks have a bigger revenue then a lot of smaller european countries. they have more weight then for example (this list could go on forever) greece or portugal or irland in the world economy so they should act more careful and dont give credits to easily.