ignl
Registered: Sep 2011
Posts: 24 |
02-17-12 09:14 AM
Its easy to blame greeks, but actually you can look from the other point of view. They would have been fine if not joining an eurozone. In my opinion their industry can't compete with Germany or France - its those countries that wants euro, because its beneficial to their economy. Weaker countries like Greece loose one of the most important economy protection tool - their own currency. So they have deficit and finance it by borrowing and then spend good deal of that money on geman or french industry goods and everyone is happy. Greeks live well but they don't know that its just an illiusion, Germany companies have bigger profits because there is no protection and greeks will NEVER be as efficient as germans (and I dont blame them for that, everyone is different). And bank managers can pay themselves big bonuses showing imaginary protits  Until... The system itself is rigged for countries like Greece or Portugal. At least until they become germans - which we know thats not going to happen. And EU provide some free money for bussinesses of those countries, probably in hope to make it competitive, but in my opinion it just makes matters worse. It just distorts market and encourage corruption. This is just one more example of big government decisions that has good intentions, but making things even worse. I think Greece should leave eurozone and default, lower taxes significantly and make reforms to to fire all them goverment officials and stupid rules (well generally forget all that communist bullcrap). Let people easily start bussiness and don't control and regulate them too much. Well generally do what every smart country should do, but this would be especially beneficial for Greece, and with big tourism sector they could get back on track pretty soon. It wont be possible with debt like this. Well this is just my opinion
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