Comments on: Europe’s coming credit austerity http://blogs.reuters.com/james-saft/2011/10/18/europes-coming-credit-austerity/ Tue, 24 Mar 2015 16:54:45 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: I_R_Responsible http://blogs.reuters.com/james-saft/2011/10/18/europes-coming-credit-austerity/comment-page-1/#comment-960 Thu, 20 Oct 2011 07:42:14 +0000 http://blogs.reuters.com/james-saft/?p=613#comment-960 It seems hard to imagine that Greece (State and/or people)does not have substantial assets (many of which are probably unproductive) that could not be used to alleviate its liabilities. Why are such assets not transferred (avoiding fire sale) to it creditors? Does anyone have a handle on the value of these assets. It would seem unreasonable to have a right down of debts before the transfer of these assets is exhausted.

]]>
By: DrJJJJ http://blogs.reuters.com/james-saft/2011/10/18/europes-coming-credit-austerity/comment-page-1/#comment-959 Wed, 19 Oct 2011 15:52:36 +0000 http://blogs.reuters.com/james-saft/?p=613#comment-959 A little off the subject, but I would make the case too many in all countries are now working under the table! A flat/fair taxation scenario like the 999 plan IS THE SOLUTION folks-KISS! In the US, we pretend a 65,000 page tax code works with 10s of thousands of high paid IRS-whast’s wrong with this picture?? I’d say this is as much an injustice as anything else-favors the rich, lacks transperancy and encourages dishonesty!

]]>
By: DiegoForever http://blogs.reuters.com/james-saft/2011/10/18/europes-coming-credit-austerity/comment-page-1/#comment-958 Wed, 19 Oct 2011 14:04:38 +0000 http://blogs.reuters.com/james-saft/?p=613#comment-958 Would politicians still be able to force banks to loan money to bad credits after the politicians forced the banks to eat the bad debt on their books?

Would politicians be force to discontinue the practice of implementing social welfare programs that were not paid for in order to buy votes?

It appears that you are arguing for banks and their shareholders to absorb the pain for the out of control spending of sovereigns. Apparently you think the banks made a mistake when the bought Greek bonds. Didn’t governments encourage banks to buy their debt by giving the illusion they would never default on it? Pehaps taxes should be raised and benefits cut so that govenments can actually repay the debt they took on.

]]>