Saturday, November 05, 2011

The Greeks v. German and French Banks

'The Greek problem is essentially cultural. Their culture is just so different to Western Europe, it is fair to say that they should never have been admitted to the EC.

Papandreou is really going out on limb, with delaying an agreement that will see even more austerity imposed on its citizens. Of course, as it is around the world, the austerity hits the poorest the hardest. Only your very basic wage earner in Greece pays tax and they are the ones who are suffering the most. The rich Greeks pay little tax, and nor does anyone who does not have tax deducted from their pay including tradespeople.

It excites me to think a democratic vote in Greece could possibly cause the collapse of greedy French and German banks who lent so irresponsibly.

Of course if Greece doesn't pay, then possibly neither will Italy, Spain and Portugal.

Meanwhile back in ole Blighty, PM Cameron is not for stumping up more money to the International Monetary Fund to cover other countries' misdeeds. What? Australia is? Australian taxpayers? Like me? Oh Julia, I don't think so.

2 comments:

  1. I've never understood why we have to pay up for other counries who have got themselves in a mess. Shouldn't they sort themselves out? Perhaps if the Greeks made their rich folk pay taxes things wouldn't be so bad?

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  2. They should River, but Greece was living on money borrowed from French and German banks and elsewhere no doubt, which is why Germany and France want Greece to pay up so their own banks won't fail.

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