Comments on: Greek rescue bizarrely increases its debts http://blogs.reuters.com/breakingviews/2011/07/25/greek-rescue-bizarrely-increases-its-debts/ Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: olsons http://blogs.reuters.com/breakingviews/2011/07/25/greek-rescue-bizarrely-increases-its-debts/comment-page-1/#comment-8311 Thu, 04 Aug 2011 16:12:34 +0000 http://blogs.reuters.com/columns/?p=6657#comment-8311 Here a question: Isn’t bank recapitalisation necessary in any case – in Euro or in Drachma? If so, then just because it has been decided along the other actions of the new packet it does not make it an integral part of the calculation in terms of judging about alternative possibilities. If not, then can someone give an argument why banks would not need to be recapitalized after a (proper) default?

]]>
By: robert1234 http://blogs.reuters.com/breakingviews/2011/07/25/greek-rescue-bizarrely-increases-its-debts/comment-page-1/#comment-8226 Tue, 26 Jul 2011 17:22:30 +0000 http://blogs.reuters.com/columns/?p=6657#comment-8226 Once again, the guilty walk away scott free and the nation’s people are forced to take on even more debt than that which created the crisis! The entire episode is a method to force the sale of public owned items to private corporations at fire-sale prices and nothing more. Greece should have defaulted. They would have recovered in two years. Now, it will be 10 to 15 years before the private economy can even catch up where it is now. Shame on the bankers and finance people for this criminal act.

]]>
By: chris_J http://blogs.reuters.com/breakingviews/2011/07/25/greek-rescue-bizarrely-increases-its-debts/comment-page-1/#comment-8208 Tue, 26 Jul 2011 11:57:47 +0000 http://blogs.reuters.com/columns/?p=6657#comment-8208 It makes sense to consolidate debt, but simple math dictates if your out-goings exceed your in-comings then you amount debt, unless you can reduce your outs.

The worrying part of all this is the fact that these are governments which are going bust. Don’t they have accountants? The idea of a government is to serve its people, to ensure that what is needed is provided, within reason of course… with a collective of taxes contributed to the government by workers which is decided upon by members of government… That skinks straight away… There goes democracy.

If it happened once, it will happen again and again – where do the bail-outs stop?

I think its time to say, lets start again but not with the system that we have now, as it has failed us. It has made the rich, richer and the poor, poorer.

We need an equality in the financial structure, globally. No more exploitation of developing countries. A global currency, which ‘the elite’ are pushing for, could be beneficial, but it could also make things much, much worse if it isn’t regulated correctly by an independent body.

The placid state of people is perplexing! People are only now waking up to the fact that the banks are the problem. They should be there to serve the public, not to punish them for missing a payment on a mortgage because of unemployment cuts.

This is a spiraling problem which only feeds the elite more wealth and power. In short, if we do not stop this monster, we are all screwed.

So what is the answer?

These are my thoughts…

It could be time to abolish the current monetary system, we are all equal, or should be. If we contribute to society without being paid, would that work? It sounds like something from Star Trek, but imagine if money was removed from the equation.

Remove your fears of this thought, society would change, but for the better.

People, those who choose, could be educated to higher levels. If greed was removed problems would be resolved instantly, technology could be allowed to progress to aid humanity before we destroy ourselves.

We could want for nothing, but dependent on what role you play in society is linked to what you can have. For example, if you are a doctor and serve people, you would have access to almost unlimited benefits. A cleaner would be just as ‘well off’ as a bank manager of today. That system would empower people to do better, at any time as it wouldn’t be limited to age.

A social structure would still exist and would work on the principle of material possessions. It’s not like we would all be driving Ferrari’s, as they would not be deemed environmentally aware, therefore limited to a time period which you could have one, but if you wanted to you could have that car you wanted, then swap it with no cost involved, no insurance, no need for ownership. No mortgage payments, no electricity bills, no council tax – Nothing!

There would need to be a tagging system so that people can be tracked, for the purposes of identifying what you do, your privileges etc, for additional benefits out of your reach, you could trade in items/benefits to upgrade, but since there is no limit, the easiest option is to invest in yourself.

If such a system was enabled, it would make us realise that possessions do not make us who we are and that living a life based on personal development and experiences is more rewarding than this rat race we have today.

The knock-on effects would be profound, we could feed the world, provide fresh drinking water to everyone who needs it. Pharmaceutical companies would be forced to create medicines that benefit people, rather than hinder…

I’m sure there are many issues in the plan, but they are probably smaller than the problems we have now!

What a complex web we have woven…

]]>
By: georgesmiley http://blogs.reuters.com/breakingviews/2011/07/25/greek-rescue-bizarrely-increases-its-debts/comment-page-1/#comment-8206 Tue, 26 Jul 2011 07:35:56 +0000 http://blogs.reuters.com/columns/?p=6657#comment-8206 enjoyed this article because it simply states the situation on the ground. However there is a need to get one point cleared up. This is not a Greek rescue deal as it is so affectionatley referred to. It is in fact a rescue of EU banks which are holding Greek bonds. None of the money referred to in the so called Greek rescue deal even goes to Greece. it goes to pay off bond holders. There is no component for investment in the Greek economy. And as any first econ student knows,no investment, no future growth. Under the current scenario Greece will never be able to pay off its debt. Therefore they should just default and get it over with. This is what will set Greece free for returning to growth. After all 300bil is not very much. If Greece defaults on Thursday it will be forgotten on Monday. But the Greek people and the rest of the EU actually will feel relieved that this whole political dog and pony show is over. Better a horrible end than horror with end.

]]>
By: Intriped http://blogs.reuters.com/breakingviews/2011/07/25/greek-rescue-bizarrely-increases-its-debts/comment-page-1/#comment-8205 Tue, 26 Jul 2011 04:05:16 +0000 http://blogs.reuters.com/columns/?p=6657#comment-8205 They knew exactly what they were doing.

]]>
By: bobw111 http://blogs.reuters.com/breakingviews/2011/07/25/greek-rescue-bizarrely-increases-its-debts/comment-page-1/#comment-8204 Tue, 26 Jul 2011 03:07:12 +0000 http://blogs.reuters.com/columns/?p=6657#comment-8204 Only politicians could increase borrowing by 55 billion Euros and see it as a reduction in debt.

I guess their all stupid, the world around.

Must be the result of too much inbreeding…

]]>
By: DrJJJJ http://blogs.reuters.com/breakingviews/2011/07/25/greek-rescue-bizarrely-increases-its-debts/comment-page-1/#comment-8203 Mon, 25 Jul 2011 23:21:27 +0000 http://blogs.reuters.com/columns/?p=6657#comment-8203 “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” – Sen. Obama March 20, 2006

]]>
By: NukerDoggie http://blogs.reuters.com/breakingviews/2011/07/25/greek-rescue-bizarrely-increases-its-debts/comment-page-1/#comment-8201 Mon, 25 Jul 2011 18:09:55 +0000 http://blogs.reuters.com/columns/?p=6657#comment-8201 Hugo – thanks for the analysis on the Greek “rescue” plan. You’ve stripped away the political spin for us. The ‘naked’ rescue plan looks like hell, for Greece, for investors and for the dizzy-headed politicos that put this together and foisted it upon the markets.

When investors fully understand this matter, contagion is going to wreak havoc across Europe, I think.

]]>