DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Eurozone leaders agree on new Greece bailout package

**vqIo7X2U** · 07-23-2011, 05:43 PM

How fucking stupid....If it didnt work every other time they did it what makes them think it will now? This is a socialist mindset that you can throw money at a problem and it will get fixed. Let Greece default. Fact is Europe you are all looking at your future when you see Greece. Hell the USA as well unless some commonsense things are done. Shit it hurts me to say this but we should look at what Canada is doing. They are cutting spending.

Well, first of all I suggest you actually read the source about the content and structure of the new aid package. Secondly it is absolutely ridiculous to throw the booming nations of middle and northern Europe in the same pot as Greece.
And thirdly Europeans are a lot further down the road to austerity and actually work on consolidating their budgets than the US ( where you can´t even agree on raising your debt ceiling, good luck with real reforms).
I finally I will put it in very simple words for you : Europe is community of nations with various economic models and strengths. The strong countries with sucessful export economies (like Germany) do a huge chunk of their foreign trade with fellow countries in the Eurozone and the EU ( which are not the same things). While Greece alone stands for about 2,5 % of Europes economy ( or about 0,5 % of Germanys exports) and therefore even a default would hardly have dramatic consequences, Germany and other net payer nations have a vital interest in ensuring the stability of the Eurozone, even if that means to throw money at the problem. Since an "infection" of larger chunks of their own export markets and trade partners through speculation could have much worse consequences for their own businesses and trade partners. But compared to the profits that for example Germanys export industries bring home the loans to Greece are still neglectible. Obviously that would change if Italy or Spain would be knocking on the door and thus the efforts to contain the problem. For example through a european monetary fund.

07-23-2011, 05:43 PM	#7
vqIo7X2U Join Date Oct 2005 Posts 445 Senior Member	How fucking stupid....If it didnt work every other time they did it what makes them think it will now? This is a socialist mindset that you can throw money at a problem and it will get fixed. Let Greece default. Fact is Europe you are all looking at your future when you see Greece. Hell the USA as well unless some commonsense things are done. Shit it hurts me to say this but we should look at what Canada is doing. They are cutting spending. Well, first of all I suggest you actually read the source about the content and structure of the new aid package. Secondly it is absolutely ridiculous to throw the booming nations of middle and northern Europe in the same pot as Greece. And thirdly Europeans are a lot further down the road to austerity and actually work on consolidating their budgets than the US ( where you can´t even agree on raising your debt ceiling, good luck with real reforms). I finally I will put it in very simple words for you : Europe is community of nations with various economic models and strengths. The strong countries with sucessful export economies (like Germany) do a huge chunk of their foreign trade with fellow countries in the Eurozone and the EU ( which are not the same things). While Greece alone stands for about 2,5 % of Europes economy ( or about 0,5 % of Germanys exports) and therefore even a default would hardly have dramatic consequences, Germany and other net payer nations have a vital interest in ensuring the stability of the Eurozone, even if that means to throw money at the problem. Since an "infection" of larger chunks of their own export markets and trade partners through speculation could have much worse consequences for their own businesses and trade partners. But compared to the profits that for example Germanys export industries bring home the loans to Greece are still neglectible. Obviously that would change if Italy or Spain would be knocking on the door and thus the efforts to contain the problem. For example through a european monetary fund.
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