Greece.

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Malabus
Posts: 13336
Joined: 20 Nov 2009, 12:26
Location: The Death Star.
Will become bankrupt by the summer.

Another snap election; IMF distancing themselves from bailing them out and with three separate debts running total of ($366 billion) the Greek economy is still struggling.
RegencyCheltenhamSpa
Posts: 29756
Joined: 21 Nov 2009, 03:27
What do expect when IMF/ECB enforced economy destroying austerity measures on them.
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Malabus
Posts: 13336
Joined: 20 Nov 2009, 12:26
Location: The Death Star.
Greece could ditch the euro and use US dollars :)

http://www.express.co.uk/news/politics/ ... ed-Malloch" onclick="window.open(this.href);return false;
RegencyCheltenhamSpa
Posts: 29756
Joined: 21 Nov 2009, 03:27
Would not blame the Greeks after the way EU and the Troika have treated them.
confused.com
Posts: 2666
Joined: 04 Oct 2012, 07:16
RCS - get off that high horse. The Greeks new the rules when they applied to join. I guess they were as shocked as any when at long last the EU started to enforce them.
If you dont collect taxes, don't curb spending to reflect the lack of tax income, what can any country expect ? They should have walked away the first time. Because every economist in Europe / world, knew the fix was only a sticking plaster and that the day would come when the plaster would not stick any more.
Ireland got $hit on by the EU but they bit the bullet and got on with it. If it worked for them, you cant go blaming the EU for Greece
RegencyCheltenhamSpa
Posts: 29756
Joined: 21 Nov 2009, 03:27
The cuts imposed by the Troika killed any hope of recovery. Doesn't matter how much you cut spending, if you cut income as well the debts won't reduce. Yes Greece was a basket case, but having help to encourage reform and grow the and make a repayment plan would have been more effective than strangling the economy.

And since when did you have concern for tax collection - you are always showing support for tax dodging and wasting taxpayers money!
confused.com
Posts: 2666
Joined: 04 Oct 2012, 07:16
RCS, ireland coped with cuts and austerity and paid back their debt.
As for tax payers, I am firmly in the camp that if previous goverments have created tax laws that allow accountants to manage tax affairs within the law. The blame lays in only one place
RegencyCheltenhamSpa
Posts: 29756
Joined: 21 Nov 2009, 03:27
confused.com wrote:RCS, ireland coped with cuts and austerity and paid back their debt.
As for tax payers, I am firmly in the camp that if previous goverments have created tax laws that allow accountants to manage tax affairs within the law. The blame lays in only one place
The measures imposed on Ireland were much less than Greece, and Ireland's economy was much stronger and balanced.
confused.com
Posts: 2666
Joined: 04 Oct 2012, 07:16
RegencyCheltenhamSpa wrote:
confused.com wrote:RCS, ireland coped with cuts and austerity and paid back their debt.
As for tax payers, I am firmly in the camp that if previous goverments have created tax laws that allow accountants to manage tax affairs within the law. The blame lays in only one place
The measures imposed on Ireland were much less than Greece, and Ireland's economy was much stronger and balanced.
They took their medicine and worked thru it. Still maintain Greece knew the rules, up to them to take advantage of the EU to rectify their issues before it hit the fan
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