PIGS: the Achilles heel of the EU

Discussion in 'Wall St. News' started by LeeD, May 14, 2010.

  1. LeeD


    Apparently, public servants there are paid extremely well, receive two bonuses a year, are paid extra allowances for using a computer, for speaking a foreign language and even (hold your breadth) for coming to work on time. They enjoy attractive pensions, and on the demise of a pensioner it passes on to any unmarried (even divorced) daughter.

    There are many Government committees that recruit additional staff, and all are paid by the Government. It is estimated that there are more than 10,000 employed by these committees, costing 220 million Euros a year. There is a story that there still exists a committee to manage a Greek lake, Lake Kopais. Lake Kopais dried up in 1930!

    Estimates are that about 40,000 women benefit from the pension system where the pension of the dead civil servant parent is transferred to them. Civil servants could opt to retire at 40 even though the normal retirement age is 60 for women and 65 for men.

    Read full story.
  2. Any wonder they don't have any money?

    Is that the kind of thing Obama wants for USA? And who pays for all of that largess?
  3. olias


  4. Yes this is absolutely Obama's plan for the USA: A Huge voter base of parasites. "who pays" are those who do not make their living off some form of political patronage, ie, those in market economy, which is what the statist economy leaches off of.
  5. Germany should wise up and withdraw from the EU... leaving all the Grand Socialists to try to suckle from each others' dry tit.
  6. The spelling has 2 I's - PIIGS.
  7. pspr


    And when they include England it will be PIGIES :D

    (of course England uses with their own currency)
  8. In 2005, the National Intelligence Council prepared a prescient report warning that overextended welfare states could lead to economic crisis and possibly the collapse of the European Union sometime in the next 15 years:

    The experts felt that the current welfare state is unsustainable and the lack of any economic revitalization could lead to the splintering or, at worst, disintegration of the European Union, undermining its ambitions to play a heavyweight international role.

    Read more at the Washington Examiner:

  9. LeeD


  10. LeeD


    WHich other countries, in your view, qualify as "welfare state"? Germany pays "vodka money" to people with alcohol dependency, UK pays benefits to "work shy"...
    #10     May 14, 2010