Reply to post: "on-going economic crisis in Southern Europe"

PM resigns as Britain votes to leave EU

Anonymous Coward
Anonymous Coward

"on-going economic crisis in Southern Europe"

Just it's not EU to have created it. The blame is on a string of corrupt, inefficient, greedy *local* governments that created it breaking the EU rules (i.e. debt control) while altering the evidences. *Local* government elected by citizens who just wanted to suck more money out of their privileges, subsidies, and corruption. Out of the taxes from of honest, hard working people, better if those from abroad, who can't vote for the *local* government. The EU acted to stop that. It did some mistakes (i.e. too high interests on leases), sure.

Italy has more 10,000 state/region/town -controlled companies. A large percentage of them with more high-paid administrators and executives than employees. Most of them in the red, requiring tax payers money to survive - money that can't be used for investments to get past the crisis.

But nobody wants to close them, because they are a huge reserve where politicians can find highly paid, cozy jobs for friends and relatives. And that's just an example.

Of course, it's the EU to blame. Listen to those politicians who wants to maintain the status quo because it's from it they get the most advantages. The EU is asking them to renounce to their unethical, if not illegal, privileges, and they will fight to "death" to avoid it. Having to find a job to earn money? Are you mad?

Southern Europe - I live in Italy - won't be saved by more money spent or lax rules - they will just be funneled and used by corrupt governments into buying more short-term electoral consensus to maintain their extremely high paid seats (if you believe eurocrats are paid too much, look at those in Italy....) - leaving the root issues exactly as before.

The four bank who went bankrupt in Italy, and the other two the barely escaped it (zeroing their share values, meanwhile), are a perfect example of extremely bad *local* management too often colluded with *local* politicians.

Thereby, yes, believing EU is to be blamed for what It didn't, it's a form of racism. It's bad just because it's the EU.

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