Re: Wot no Greek referendum thread? : Sat Jul 11, 2015 9:32 am
So now the far left Greek government has accepted harsher austerity terms than it has been refusing up until a week ago - great negotiating strategy. Greece has been served so badly from it's inept and corrupt governments for so many decades now that the people must be punch drunk (or ouzo drunk!) The spectacle of the bullying EU leaders and the naive Greek lefties breathing EU hate across the table at each other would have been regarded as unbelievable had it been fiction.Greece should never have been allowed to join as a simple audit would have revealed it did not meet the membership criteria. The un-elected professional EU bureaucrats were too busy riding on the gravy train to be aware that the monster they had created was out of control and heading for a crash.
The Euro was always a disaster waiting to happen and because it was a political concept rather than an economic one it never had a chance without full fiscal integration. The single currencies has been a huge failure having brought Ireland, Portugal, Spain and of course Greece to bankruptcy with Italy & Co in deep trouble too. Yet the EU leaders are happy to pump billions of tax payers money into propping up the Euro rather than admit they got it wrong.
The single currency has had a terrible negative effect on the whole of the EU which has become uncompetitive, with too high unemployment, too long a recession and too low growth. Unless there is a willingness to make serious reforms to the EU it's decline will continue in which case we should get out as soon as is practical.
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