Greece Facing the Debt Crisis | Made in Germany

Greece's runaway budget deficit has triggered concern across Europe, particularly among the eurozone countries. Athens' financial problems have put pressure on the euro.
Back in December, the European currency was considered a beacon in the financial storm. But when the scale of Greece's debts emerged, the euro fell to 1.37 US dollars. Eurozone members have now pledged to take any action necessary to safeguard financial stability. Report by Miltiades Arsenopoulos

Category:

News & Politics

Tags:

• Greece
• Greeks
• taxes
• deficit
• eurozone
• debts
• jobs
• kiosk
• Anchos
• crisis
• euro

[RedGoblinus]

@westongeezer Excellent comment, the European Union project is a parasitic infestation of the European continent. It currently costs the British taxpayer £60 million PER DAY in membership fees to this parasitic organisation.

[annaravani1]

@RedGoblinus

[westongeezer]

Its no a well known fact, but the concept of the EEC was first penned and designed by Adolf Hilter, and funny now in 2011/12 we are finding Greece being dictated to by Germany, the Greek financial sitution is largley they own doing but the EU like a parasite takes advantage of this situation and takes over the countries goverment and enforces its own restraints to fit them...The Greek people need to over throw the new goverment and leave the EU and bring back the drachma .

[VERGIS92]

@denisdrennan this is not entirely true, Greece does have competitive presence in commercial trade, and new technologies, such as semiconductors and electronics, but 9/10 of these products are manufactured in Taiwan or China, but they are designed here. The tax regime is too greedy and they have no choice but to make them abroad. The country loses a lot of revenue out if its greed

[RedGoblinus]

@denisdrennan I'd be far happier with the UK aligned more with the USA and the British Commonwealth countries as it used to be before we joined the EEC in 1973. The sooner the UK leaves the corrupt and criminal led EU project the better.

[denisdrennan]

@RedGoblinus

I am not sure you have a clear idea of the subject you are talking about. This is like saying that California will be better of if she leaves USA. Well alone England will be a sitting duck for China, Brazil and other countries who compete through no rules. It will go out of business very soon. It has no leverage to negotiate trade agreements cuz China will impose it's terms, steal the "know how" and compete with England. It doesnt take a genious to understand this.

[RedGoblinus]

@denisdrennan The way forward for the UK is to leave the corrupt and criminal led EU project and be free to trade with the world once more on its own terms. The European Unionists can stick their EU where the sun doesn't shine as far as I'm concerned.

[denisdrennan]

@RedGoblinus

Typical "old europe" mentality. That is why Europe will never be a second US in the world. Europe needs a united economy to compete with large emerging powers and consolidate its markets and industries. Instead of working harded and competing you prefer to vegetate, cry and bitch full of nostalgy about 3000 yrs old Drachmas. Who gives a crap? For some reason many Europeans love to hide behind the protective social measures long proven as ineffective.

[denisdrennan]

@RedGoblinus

Not really, spanish and Italian economies at least are industrial ones, have a substantial amount of "know how" and are not 80% gov run economies. So their debt although too large, is backed up by a productive workforce & competitive economies. US has a large debt too, but it can in no way be compared with Greece which literally has no competitive capacities, to support it. The lazy lifestyle of greeks, stands on the fact that Greece has a "nanny state" and a gov run economy.

[RedGoblinus]

@baroh2413 It's the unelected and criminally corrupt despots of the EU that are causing the problems. The sooner the UK can leave the EU project the better. Let's have a free and fair referendum in the UK on leaving the EU just as the Greek people should have a free and fair referendum on a return to their 3,000 year old Drachma currency. The EU sucks.