Is it just me or do other people think that this bloody madness.
Currently Greece is undergoing all sorts of national trauma becasue they need a bail out from members of the IMF. They need this money for what? Infrastructure? Health service? Education|? Military?…no, because they can’t pay their outstanding debts.
So let me get this right. Greece has been living beyond its means for the last decade, borrowing money on the international markets in order that the bloated public sector can pay bloated wages to their (I should think) bloated workers…
This is like taking out a new credit card and withdrawing money from the cash machine to take in to the bank to pay your credit card bills that are now due.
Despite having given Greece E110bn in 2010, they need more. Primarily because they are still spending more money than they make.
Why don’t we just write off all debts to failing economies, give them no more support and learn our lessons (no matter how painful) and move on.
Every economy needs to be able to stand on its own feet, cutting it’s suit according to its cloth so to speak, if we keep lending money the problem wont go away it will just escalate once again.
Either that or we take their land in payment…at least we would all be able to go away on a sunny holiday then (in the UK)!