mai said:
Tomorrow will be better than today, electricty comes from a wall socket, gas from a gas station, wi-fi is a gift of gods. Amen, brother! :D |
Just a quick question out of curiosity: What do you think i was trying to say with my comment?
Not sure if they will have to leave the EU, but the Euro currency.
The previous Greek governments have a case to answer, for just using the bailout as free money to keep the country going a few more years, rather than sorting the economy out. The Creditors would be so much more sympathetic if they had at least put significant measures in place, but they have to draw the line now or they will be throwing more money away.
And it is the ordinary Greek man, woman and child wiho suffers most...
PS, PS2, Gameboy Advance, PS3, PSP, PS4, Xbox One
MikeRox said:
Ireland is the most prominent example I can think of. However most countries have never even tried Austerity. [...] |
http://www.heritage.org/index/visualize?countries=greece&type=4
Greece has had at least twice as much austerity as all the other "problematic" countries.
The reason you see Greece as the black sheep is that we're in the spotlight, while the rest buy time to lick their wounds.
My themeforest portfolio:
routsounmanman said:
http://www.heritage.org/index/visualize?countries=greece&type=4 Greece has had at least twice as much austerity as all the other "problematic" countries. The reason you see Greece as the black sheep is that we're in the spotlight, while the rest buy time to lick their wounds. |
There is a reason that Greece is in this spotlight, because the situation there is far worse than in so called other problematic countries.
Please excuse my (probally) poor grammar
routsounmanman said:
http://www.heritage.org/index/visualize?countries=greece&type=4 Greece has had at least twice as much austerity as all the other "problematic" countries. The reason you see Greece as the black sheep is that we're in the spotlight, while the rest buy time to lick their wounds. |
Have you tried adding the United Kingdom to your graph? You'll find it's below Greece for pretty much the entirity of whatever they are trying to analyse there... (hint, it's not raw numbers spending)
The spotlight is on Greece because you're quite simply bankrupt. Cannot afford to sustain your current way of life and are now throwing all the toys out of the pram because of this. It's not the Greek people's fault though. Greece simply should never have been allowed to join the single currency. It was said at the time, and it is glaringly apparant now.
RIP Dad 25/11/51 - 13/12/13. You will be missed but never forgotten.
Qwark said:
|
Indeed now it is, after 3 horrendous bailout programs that have failed miserably so far (even the IMF has openly admited to misjudging the effects of austerity and miscalculating Greece growth rates). The results - GDP 26% down, highest unemployment in EU, all while the debt has exploded.
Or do you mean at the start of the crisis? Please enlighten me as to why.
My themeforest portfolio:
MikeRox said:
The spotlight is on Greece because you're quite simply bankrupt. Cannot afford to sustain your current way of life and are now throwing all the toys out of the pram because of this. Now, yes, of course. We have closed the banks, for crying out loud! At the start of the crisis though, Greece, Ireland and Portugal where not that much different (although I admit Greek economy is the weaker of the three). It's not the Greek people's fault though. Greece simply should never have been allowed to join the single currency. It was said at the time, and it is glaringly apparant now.
Totally agree here. I could advocate why returning to national currency would be beneficial for us, enduring the short-term pain. |
My themeforest portfolio:
| MikeRox said: Have you tried adding the United Kingdom to your graph? You'll find it's below Greece for pretty much the entirity of whatever they are trying to analyse there... (hint, it's not raw numbers spending) The spotlight is on Greece because you're quite simply bankrupt. Cannot afford to sustain your current way of life and are now throwing all the toys out of the pram because of this. It's not the Greek people's fault though. Greece simply should never have been allowed to join the single currency. It was said at the time, and it is glaringly apparant now. |
yea it's very unfortunate for all parties involved (apart from some private profiteers) that Greece joined the Eurozone when at no point they even were close to meet the requirements
sure there was some shady business with Goldmann Sachs going on to hide part of their debts, but I'm sure the inspectors knew, yet some people made the decision to expand the Eurozone to Greece anyway, maybe even with the best intentions of accelrating the growth of the Greek economy with low interest debts they gained access to in the Eurozone
but the Euro totally killed the local industry and even the tourist sector became less competitive both weakening the overall economy greatly yet the living standards still rose (paid for with said low interest debts)
routsounmanman said:
Or do you mean at the start of the crisis? Please enlighten me as to why. |
The situation was crap to start with, otherwise they wouldn't even need help, let there be no doubt about that. Greece sure as hell ain't Denmark or the Netherlands. I agree that the bailouts where poorly executed but putting the full blame on EU isn't correct although they didn't make the situation any better and presumably quite a bit worse. But the corruption and the failed taxation in the entire country made it a simple timb bomb and the EU added some gasoline after it's explosion to make the explosion worse, but in my opinion there shouldn't have been a timb bomb at all and that has Greece to thank to it's very self.
Please excuse my (probally) poor grammar
MikeRox said:
Ireland is the most prominent example I can think of. However most countries have never even tried Austerity. Many countries in Europe have supposedly tried austerity programs to aid the recovery from the recent recession. Austerity as promoted by conservatives and the IMF and as decried and derided by Keynesians (led by Paul Krugman) is generally defined as cuts in government spending and/or reductions in government deficits. We constantly read how Greece, for example, is being forced to cut government spending as a condition of international aid. Using data from Eurostat (the official statistics agency of the European Union), I calculated the change in government spending from 2008 to 2012. In fact, the data tell us that only eight out of the thirty countries in Europe that are listed have reduced government spending over that period. Of those eight countries, only Iceland and Ireland have been prominent austerity examples in the news. (The others are Bulgaria, Ireland, Latvia, Lithuania, Hungary, Poland, and Romania.) The countries that have purportedly tried austerity and failed are not on the above list. Greece, Spain, Italy, and Portugal have all increased government spending, not reduced it. In fact, according to the Eurostat data, Italy is the only one of those four countries whose government spending increase is below the EU average over the 2008 to 2012 period. Greece (8.3% increase over the four years), Spain (13.3%), and Portugal (5.8%) have not only avoided austerity, but actually have been more profligate than the average European government which increased spending by 4.9% in the same timeframe. Italy has been only slightly better behaved, with a spending increase of 4.1% from 2008 to 2012. So a first look at the data suggests that most European countries have not practiced austerity as so many Keynesians have claimed. |
austerity will allways lead to more government spending, because the social system has to grow alot if the economy is going down...
and ireland had a different problem then the southern states.
About Us |
Terms of Use |
Privacy Policy |
Advertise |
Staff |
Contact
Display As Desktop
Display As Mobile
© 2006-2024 VGChartz Ltd. All rights reserved.
