Greece

[Martin Holden]

The Greeks have voted in a more right wing government. Seems the outgoing PM and his party paid the price for backing down to the EU and accepting draconian cuts in return for a bail out. Given the very different historical economy in Greece with what I believe earlier retirement than in the rest of Europe as an example, wouldn’t they have been better of crashing out and re building their own economy? How many other EU member states are close to another “Greece”. Sometimes cutting your losses is a better way. The EU seem to be desperate to maintain the status quo whatever the cost economically and politically. There are more question than answers about the direction of travel of the EU.

 

[br jones]

The Greeks have voted in a more right wing government. Seems the outgoing PM and his party paid the price for backing down to the EU and accepting draconian cuts in return for a bail out. Given the very different historical economy in Greece with what I believe earlier retirement than in the rest of Europe as an example, wouldn’t they have been better of crashing out and re building their own economy? How many other EU member states are close to another “Greece”. Sometimes cutting your losses is a better way. The EU seem to be desperate to maintain the status quo whatever the cost economically and politically. There are more question than answers about the direction of travel of the EU.

Should of left 10 years ago,but the threats from eu officials scared them to death .proper project fear

 

[Exfarmer]

Its the eternal democratic problem
One party spends money like water on vanity projects, social services etc. Crows come home to roost so new party elected.
They fix the economy, but the voters do not like austerity, so next time they vote for the idiots who got them in the mess, rather than those who fixed it.
The really strange thing here is there parties seem to be the reverse of ours. Left giving austerity and the right, rampant spending.

 

[Danllan]

As some may suspect, I am not a fan of the EU or the idea of the Euro as a currency for us; nevertheless, I can see both working well for a few of the Northern European countries - I don't include France with these.

That written, the opposite is true too; there is not much chance that most of the Southern European countries, Greece being the stand-out example, can benefit in the long term from belonging to the EU, and there is no chance at all that they can benefit from having the Euro.

I am undecided about the costs / benefits for the Eastern European countries; currently they are on to a winner. But give it a few more years and the probable absence of subsidies at that time - and the near-certainty of their economies struggling post-subsidy - may see some of them in similar situations to Portugal, Greece, Spain and Italy.

Greece needs to reinstate the Drachma, everyone knows this, but EU dogma won't allow it. As stated, I'm not a fan of the EU, but if I were I really would want it to be possible for a country in Greece's position to revert to its former currency, if only on a short to medium-term basis.

 

[Exfarmer]

The problem was letting Greece join the Euro. No doubt at the time it was spelled out very firmly to them the long term effects this could have. I would also suggest they were told very firmly the neccesary financial controls they needed to introduce.
This last government has achieved the sort of turn around that Maggie Thatcher would have been proud of.
But we know the short/ medium term effect that had, ensuring a prolonged Labour government. And a life long hatred from some former enployees of state industries.
However we can now see that the longer term effect was indeed very positive and hopefully the Greeks are now headed in the right direction.
Though some how I doubt it