Re: LATEST NEWS ON DEBT CRISIS IN GREECE

**Panda** Fri 1 Jul - 16:33

[quote="halfamo"]

Carolina wrote:All I can say is that I fully support the Greek people in their fight against these austerity measures which will only make matters much worse. This is about the EU wanting to get rid of the rights of the working class and to leave the riches in the hands of a very small minority. They want to end the redistribution of the country's wealth. I would like to remind everyone that their problems started when Germany sold the country military equipment that they did not need at ridiculous prices.
This is not a bailout or a remedy to the country's problems. It is a loan with draconian conditions and usurious interest rates which are criminal. Look what the IMF did to Argentina! They almost destroyed the country. Because of the conditions they imposed, such as a 0% deficit !!!, privatisations, less investment in public services, tax cuts, children died of malnutrition, millions lost their jobs and livelyhoods as well as their homes. At least, Néstor Kirchner had the courage to stand up to those vultures from the IMF.
BTW, Portugal, Spain, Greece, etc. aren't the problem countries, the problem is CAPITALISM!

I fully agree, halfamo, it is estimated that it will take 30 years for Greece to repay all these Loans and the general concensus is Greece should have defaulted, the EU Countries can"t let that happen because the Euro would collapse and Spain , Portugal and Ireland would be even more vulnerable.
It was a stupid idea to have one Currency fits all and if you ever read the Fortnightly Bulletin about what is happening in Europe,it is quite shocking
the way the EU is governed.

**Badboy** Sun 11 Aug - 10:55

Greece seems to be out of trouble now