Reply to post: Re: Ignorance of the issue

Crowdfunded beg-a-thon to bail out Greece raises 0.003% of target

Mad Mike

Re: Ignorance of the issue

I don't think he's saying Greece doesn't have something to do with it. He's simply highlighting what happens when you try and join economies that are vastly different, belonging to cultures that are vastly different with very different outlooks on life.

The Med culture is vastly different to the culture of more northern Europe, something that France suffers from a little as well. The Greeks always thought it was a great idea as it gave them access to almost unlimited loans at very low rates (compared to previous years), which they took up with abandon. Allowed them to keep completely unsustainable practices in place, such as retiring at a stupid age. Britain did this to some extent and that is also coming back to bite us now.

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