• A Conservative interpretation of the US Constitution
  
• Personal Responsibility
  
• Help for the truly needy
  
• Limited Government
  
• Consumption Tax (non-profit charities and food exempt)
  

quote:

ORIGINAL: JVoV
The country is going to have problems getting financial assistance from outside sources. Taxes will have to go up, services will have to be cut.
They'll be forced into a balanced budget whether they like it or not, because more debt won't be an option.
We have similar issues here at home, with Puerto Rico. But because Puerto Ricans are US Citizens, they can relocate to the States to find work fairly easily.

• A Conservative interpretation of the US Constitution
  
• Personal Responsibility
  
• Help for the truly needy
  
• Limited Government
  
• Consumption Tax (non-profit charities and food exempt)
  

quote:

ORIGINAL: SirMatty1

I would assume that you only studies the recent headline news.

The problem aren't the Greek people, the issue at hand is lack of democracy in the EU.
The whole leadership was caught off guard, when the referendum was announced.

Juncker himself said it more than once "For as long as no one objects, we are just moving on (creating the US of E)"

Now the leadership got their balls and boobs kicked in a big way.

I applaud the Greek people for having some spine and standing up.

quote:

ORIGINAL: SirMatty1

Goldman Sachs faked the books to start with.

The EU has broken every contract under the sun, including the "no bail out".

quote:

ORIGINAL: SirMatty1

I would assume that you only studies the recent headline news.

The problem aren't the Greek people, the issue at hand is lack of democracy in the EU.
The whole leadership was caught off guard, when the referendum was announced.

Juncker himself said it more than once "For as long as no one objects, we are just moving on (creating the US of E)"

Now the leadership got their balls and boobs kicked in a big way.

I applaud the Greek people for having some spine and standing up.

quote:

ORIGINAL: DesideriScuri

"What's Going on?!?"

http://news.yahoo.com/greece-votes-high-stakes-bailout-referendum-050534077--finance.html#

Anyone have any idea what's going to happen next, and how Greece is ever going to get out of this mess?

(ETA: In case anyone is wondering, I have Google Translate to thank for the Subject line.)

quote:

ORIGINAL: eulero83

quote:

ORIGINAL: DesideriScuri

"What's Going on?!?"

http://news.yahoo.com/greece-votes-high-stakes-bailout-referendum-050534077--finance.html#

Anyone have any idea what's going to happen next, and how Greece is ever going to get out of this mess?

(ETA: In case anyone is wondering, I have Google Translate to thank for the Subject line.)

hopefully what's going on is the end of that madness called euro. What happened is when the euro was created the various european countries would give away their power of minting their own currency and leaving to private banks the duty to guarantee the value of the money in return of an interest. This basically created a disproportion in the cost of money in the various country where in germany, BeNeLux and france is cheap wher in southern europe having a different economy is more expensive and basically it drained capital from the mediterranean countries to the central ones. This system created not many problems until the usa didn't start the world crisis in 2008. The rules supporting the euro basically rushed with the necessities of the countries to recover from the crisis so policies of austerity were imposed by the european bank to keep the currency strong, while some countries are starting to recover now greece's economy was cushed, the bailout strategy and a road map to recovery that the eu governament imposed to greece didn't improved the economy but killed it, the only effect was the debt was repaid in part by the other countries so private banks would be safe and eventually the people would pay the costs. Now the eu governament imposed other conditions on the same line of austerity for greece, but this time after changing their own governament they tried to negotiate a better deal, the eu governament called an ultimatum and greece prime minister decided to ask with a referendum to the people if the wanted to accept it or not, they voted to reject it. So they may decide now various option the governament is not pushing officially for a national currency but for a better deal, the eu governament said in the last days if they voted no they would be forced to do so. This opens various scenarios for grece and for the rest of europe because let's be clear € is a corrupted system and now people are starting to question it.

quote:

ORIGINAL: JVoV

Unless Greece finds investors willing to deal, they'll have no choice but to keep spending in line with income.

quote:


Austerity is nearly impossible without an amazing economy in the country, which isn't happening for whatever reasons. Balancing the budget is the first step. Fiscal responsibility can't be ignored by government, and excessive spending cannot be maintained without raising income.

The Greeks need to look at why jobs aren't being created, and change laws that are in the way.

quote:

ORIGINAL: JVoV

It's not like US States aren't carrying debts of their own.
http://m.washingtonexaminer.com/how-much-debt-does-your-state-have/article/2560310

Even with a central federal government, individual states have different fiscal policies, including tax codes, public spending, etc.