Happens In Greece The economic crisis from another point of view

27Oct/11

Dire warning from Angela Merkel: Peace in Europe is at risk!

“Nobody should take for granted another 50 years of peace and prosperity in Europe. They are not for granted. That’s why I say: If the euro fails, Europe fails,”

These were the words of German Chancellor Angela Merkel in her speech to the German parliament.

The German Chancellor continued with a warning for Greece:

“Debt restructuring alone does not solve the problem. Painful structural reforms have to be made, otherwise even after debt restructuring we’re back to where we are today.” 

“It’s not enough that the troika comes and goes every three months. It would be desirable to have a permanent supervision in Greece,”
Just one day before the celebration of  Greek Revolution of 1940 against the Axis forces, the people of Greece listens to the German Chancellor demanding new sacrifices and also a permanent supervision inside their own country.

 

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Comments (4) Trackbacks (0)
  1. This is very interesting! Great information and it is also very well written. I will bookmark and comeback soon.

  2. She is one angry frustrated woman. Nasty.

  3. She is correct that debts have to be paid, it is a pity she doesn’t hold the same view when it comes to Germany paying their debt (over 60 years and still not paid). I believe that the Eurozone system is doomed to fail because of it;s own stupidity i.e. Italy are required to loan Spain 20% of the bailout money @3%, yet have to borrow this money at 7%. This is a logic that only fools could instigate. Yes OK Greece does have it’s problems, but these are made far worse by the stance taken by the Iron Maiden. How the hell can Greece hope to start to climb out of a 5 year recession, when they are paying fantastic interest rates over a very short period. Putting people out of work does nothing to stimulate any economy, it does in fact have the opposite effect. People out of work are not contributing to the Nations income and they certainly are very restrictive on their spending. This means there is a knock on effect within that system, if people are not buying then there is no requirement to produce goods & bingo yet more people unemployed. It is a system that will eventually devour it’self, nobody wins everybody loses. Of course there are the very rich who will hardly notice any difference.

  4. Further to my previous contribution, is it not about time that the focus was taken off Greece and concentrated elsewhere. Remember that of the total eurozone debt Greece is only responsible for 2% of it.


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