Quote:
Originally Posted by Slava
I know this is a common year thought, and probably amongst a lot of other Europeans. There is a problem here though. They could be past the point of no return, and there is one particularly glaring issue with this situation.
If they cut Greece out tomorrow then the focus shifts to Portugal and Spain. If you cut them, Italy has to go next and the next would be France. At the point where it becomes obvious that France would leave the union it's basically over. Essentially cutting Greece could mean the entire EU fails; sometimes the unintended consequences of a seemingly simple route are too painful!
Its a catch 22 though. No one wants to keep pouring money into these countries and they're being dragged into austerity (which might not work anyway).
I agree with cowperson that eventually it will get sorted and it just takes time. Until then it could be a bit of a roller-coaster.
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I don't know if you can disagree that because of the way that Greece was doing business that these deep austerity cuts had to happen no matter how unpopular they are.
If you're going to be part of the EU, and you're going to go hat in hand to continually ask for bailouts, there are going to be hefty conditions, and as you ask for more, the conditions are going to get tougher and tougher.
I just don't see how a $4 billion dollar budget cut does anything when your getting $130 billion in bailouts.
I doubt that the government will last through the next election, eventually as the people get more angry you get Nationalist governments that tend to rise very quickly.
With the issues in Italy, and Greece and Spain, are we seeing another incubator for a rise in either communism or Facism?