Loads of myths about the Greek economy debunked - and some not.
Yes, amusing but flawed Myths about the Greeks, and there economy, not sure that some of the data used is any better than the examples citied, but that is the thing with statistics, ?..... The myths exposed about the Railway's, suicides, and working hours shows the flawed ' examples'. What confuses me is why they bothered to have a referendum, then capitulate and accept worse austerity measures?...... or so it seems, or is that a myth?.
I believe the Greeks view the result of the referendum as a vote against permanent austerity rather than rejection of a short-term necessity.
Previous governments seemed to quite like the idea of a few people living off the German loans while everyone else existed in poverty.
The Greek population know they need help from the rest of Europe but they don't want their government to simply take the money and do then nothing to get out of their predicament.
Too much individual resentment clouds decisions. The Germans have made more money out of Greece than they are paying in to them. How? Because the Greece crisis has brought the Euro down and created favourable trading conditions for them!
I guess it is how you define 'short term'....... I have no great insight into the Greek economy, the UK economy is difficult to get your head around, as the programme mentions we had a greater deficit but the money markets seemed to think that as we were outside the euro, we were a better run economy. So , as we are today, the Greeks need the new loan to pay back the money, that they could afford to do, but have borrowed more money, with more austerity, and now have to sell off the ports etc, raise VAT, pension ages, even though they voted against this only a week ago?...... and the financial institutions think are going support this....... providing the coalition can deliver this and keep to the repayments....... As they saying goes in Butch Cassidy, I will believe it if you will ........ and they were a couple of 'cowboys'
I really am astounded by certain sections of Greek society, and also Nobel-prize winner Paul Krugman, who seem to think not only is a Greek economy based on spending as much as it likes (as long as the rest of the EU pays for it) a sustainable model, but that the solution to their overspending is...more spending!
Why doesn't Germany just mandate that all German citizens are entitled to Bentleys and Rolexes and ask Greece to fund the bill? According to the Greeks and Krugman, this is a surefire economic winner!
Alternatively, why don't all the EU states just invent a 200 year interest free bond for 500 billion Euros each? Instant cash injection and they'll just wait until 2215 until they need to pay each other back. After all, all this money is simply on paper. This isn't even that far off what is actually being suggested as an alternative to "austerity".
Too much individual resentment clouds decisions. The Germans have made more money out of Greece than they are paying in to them. How? Because the Greece crisis has brought the Euro down and created favourable trading conditions for them!
Simple as that. Reduce the value of your currency and that will counter balance billions of money spent propping up Greece's tax dodging, bloated civil service and lovely pensions. Obviously imports will cost a bit more, but sure Muttley has done all the sums.
The overspending Greeks is largely as fictional as overspending labour (tories have bigger deficits because they normally bring recessions with their policies do lower tax income). They borrowed to bail out their private banks. Austerity is just an asset grab to make the masses pay for the failure of the city and their worldwide mates. In Greece like here selling our assets off cheap to a few is
Too much individual resentment clouds decisions. The Germans have made more money out of Greece than they are paying in to them. How? Because the Greece crisis has brought the Euro down and created favourable trading conditions for them!
Simple as that. Reduce the value of your currency and that will counter balance billions of money spent propping up Greece's tax dodging, bloated civil service and lovely pensions. Obviously imports will cost a bit more, but sure Muttley has done all the sums.
Is that true re the Greeks lavish spending or manipulated media lies like labour causing the deficit? Did they not borrow to bail out their failure banks too?
Too much individual resentment clouds decisions. The Germans have made more money out of Greece than they are paying in to them. How? Because the Greece crisis has brought the Euro down and created favourable trading conditions for them!
Simple as that. Reduce the value of your currency and that will counter balance billions of money spent propping up Greece's tax dodging, bloated civil service and lovely pensions. Obviously imports will cost a bit more, but sure Muttley has done all the sums.
You don't need to do any sums to work out that a weaker Euro hugely benefits the Germans. Is that something you are not aware of?
Germany adopts an approach to reflect the views of its people. Always dangerous as people equate economics to household budgets. So the germans want blood. We don’t want to pay for the lazy greeks. But as the anchor economy Germany benefits and trying to get all the other countries to be like them will actually diminish their own benefits as well as being impossible.
The economic logic is the same as the "transfer problem" that Germany faced from the other side when it was left with unsustainable debt and reparations demands in a fixed currency under the Versailles Treaty. The Allies had to restructure the debt and allow Germany to sell enough to them to generate sufficient income to make the resulting lower payments—even as Germany undertook austerity measures. Beyond a certain point, just demanding that Germany save more was financially fruitless for the creditors (as well as being politically destructive). Of all the countries that should know better, you would think the germans would.
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https://m.facebook.com/story.php?story_fbid=10153988726765016&id=99985820015&refsrc=http://t.co/Jyc2cAsQ7C&_rdr
Wonder when the next final deadline after that will end?
https://uk.finance.yahoo.com/news/eu-demands-britain-joins-greek-185456957.html
http://www.bbc.co.uk/programmes/b063fdyk
Loads of myths about the Greek economy debunked - and some not.
Previous governments seemed to quite like the idea of a few people living off the German loans while everyone else existed in poverty.
The Greek population know they need help from the rest of Europe but they don't want their government to simply take the money and do then nothing to get out of their predicament.
So , as we are today, the Greeks need the new loan to pay back the money, that they could afford to do, but have borrowed more money, with more austerity, and now have to sell off the ports etc, raise VAT, pension ages, even though they voted against this only a week ago?...... and the financial institutions think are going support this....... providing the coalition can deliver this and keep to the repayments....... As they saying goes in Butch Cassidy, I will believe it if you will ........ and they were a couple of 'cowboys'
Why doesn't Germany just mandate that all German citizens are entitled to Bentleys and Rolexes and ask Greece to fund the bill? According to the Greeks and Krugman, this is a surefire economic winner!
Alternatively, why don't all the EU states just invent a 200 year interest free bond for 500 billion Euros each? Instant cash injection and they'll just wait until 2215 until they need to pay each other back. After all, all this money is simply on paper. This isn't even that far off what is actually being suggested as an alternative to "austerity".
Germany adopts an approach to reflect the views of its people. Always dangerous as people equate economics to household budgets. So the germans want blood. We don’t want to pay for the lazy greeks. But as the anchor economy Germany benefits and trying to get all the other countries to be like them will actually diminish their own benefits as well as being impossible.
The economic logic is the same as the "transfer problem" that Germany faced from the other side when it was left with unsustainable debt and reparations demands in a fixed currency under the Versailles Treaty. The Allies had to restructure the debt and allow Germany to sell enough to them to generate sufficient income to make the resulting lower payments—even as Germany undertook austerity measures. Beyond a certain point, just demanding that Germany save more was financially fruitless for the creditors (as well as being politically destructive).
Of all the countries that should know better, you would think the germans would.