Who is bailing out Greece and why?

Besides some good looking women what does Greece actually produce or export to the rest of the world? Pretty amazing a country not even 1/3rd the size of California can have this big of an impact on the rest of the worlds economy.
 
cawacko said:
Besides some good looking women what does Greece actually produce or export to the rest of the world? Pretty amazing a country not even 1/3rd the size of California can have this big of an impact on the rest of the worlds economy.
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Cruise ship personnel.
 
cawacko said:
Besides some good looking women what does Greece actually produce or export to the rest of the world? Pretty amazing a country not even 1/3rd the size of California can have this big of an impact on the rest of the worlds economy.
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Dude, the nation has less population that the City of Los Angeles. The scary part? California is in worse straights than Greece is.

Greece is getting 900 Billion (with a B) and some say it isn't enough. What will California need?
 
cawacko said:
Besides some good looking women what does Greece actually produce or export to the rest of the world? Pretty amazing a country not even 1/3rd the size of California can have this big of an impact on the rest of the worlds economy.
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In the article it stated that Greece's GDP was lower than that of the Dallas/Ft. Worth area.

bottom line... Greece is like the first hole in the Dam. Germany just stuck its finger in the hole.
 
Damocles said:
Dude, the nation has less population that the City of Los Angeles. The scary part? California is in worse straights than Greece is.

Greece is getting 900 Billion (with a B) and some say it isn't enough. What will California need?
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Correction.... Greece is not getting the full $900b. They will likely receive about $45B or so. The rest is an attempt to shore up the other PIIGS.
 
Chapdog said:
I always was of the opinion the EURO and European union would never be a permanent thing. No way you going to put an Italian, frenchman, Spaniard, greek, and so on into a room and not witness them fighting. When things are good no problem.. but as soon as something goes wrong which it will the EURO will fail. This Greek thing is nothing and look at the outrage by the Germans. They hate greeks now.
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At least the Germans are guaranteed the best sunbeds by the pools in Greece now.

 
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Superfreak said:
It is time to shrink the government. We all know that there is vast amounts of waste permeating in every facet of the government. I doubt there is any one agency/department that doesn't have a Rush Limbaugh layer of fat around it.
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SF, if there's a bucket of easy cuts lying around that would lose you no political capitol to cut, why wouldn't Republican and Democratic administrations tap that to fund their spending and tax cutting programs? No, we all do not know that.
 
If an American state were going into default, and it threatened the stability of the entire American economy, the US government would probably organize a bailout of some sort. Greece isn't exactly a state, but it's closer to it than your usual country is.
 
Superfreak said:
I do not disagree on how tough it would be. But that is the point. We CANNOT keep taking the EASY route. We HAVE to make the tough choices now. Unless of course the game plan is to keep pushing the problem into the future, letting it fester and spoil for as long as possible until it finally explodes onto the country and destroys everything.

Allowing the idiots in DC to raise the nations debt by over $9 Trillion in the next decade is nothing short of insane.
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I see no reason that tax raises should not at least be an equal part of the hard route.
 
Mr. Spite said:
SF, if there's a bucket of easy cuts lying around that would lose you no political capitol to cut, why wouldn't Republican and Democratic administrations tap that to fund their spending and tax cutting programs? No, we all do not know that.
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Because the wasteful spending, if cut, would mean people would lose Government sponsored jobs.

If you cut the waste out of education.... a lot of admin jobs would be lost

If you cut waste out of defense.... defense contractors would cut jobs, you would also lose admin here

etc....

It is the same reason they won't go to a flat tax with standard deduction. They will not do anything that requires a job to be cut. Despite the fact that it is in the best long term interest of this country.

edit: Side note Water... YOU were the one that added 'without losing political capital'... something I never stated
 
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This will be awesome watching Europe's financial disaster. The US will follow shortly thereafter. Lib-tards everywhere will be crying. :)
 
Mr. Spite said:
I see no reason that tax raises should not at least be an equal part of the hard route.
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at this point, they will have to be.

Even if they repeal the monstrosity of a health care bill, they will still need to raise tax revenues. But they MUST cut the spending and swallow that pill now as well. Reign that in hard and fast. Yes, government jobs (and ancillary jobs) will be cut. But those are the pains we have to take.
 
Mr. Spite said:
If an American state were going into default, and it threatened the stability of the entire American economy, the US government would probably organize a bailout of some sort. Greece isn't exactly a state, but it's closer to it than your usual country is.
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I think the EU IS like the US in that manner. Your analogy is correct.

We will likely see something similar here when CA finally realizes how fucked they are and request even more Fed bailouts for their state.
 
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