Comments on: Europe struggles with bad choices

By: abkisa

abkisa — Thu, 07 Jul 2011 11:48:43 +0000

It is always hard to give up privileges already enjoyed. The Greeks will adapt and in time get their ship in order. Ireland will do the same. The Europeans are heading the right direction and will work out the details as they move forwards. There needs to be more efficiency in some of their economies and a tighter control on costs. I am more concerned about the U.S. and the highly partisan politics that are affecting any attempt to deal with our problems. The Republican’s economics are outdated yet they continue to call for reduced regulation and reduced taxes…. the very same agenda that created our fiscal problems!

By: London-Athen

London-Athen — Tue, 07 Jun 2011 10:37:38 +0000

I believe that it will be handy to read below article in CNN. The greeks should question where their money goes

Greeks pour money into London property pdated June 3, 2011
Greece’s debt spiral is having some surprising consequences for London’s Greek community. CNN’s Nina dos Santos reports.
http://edition.cnn.com/video/#/video/bus iness/2011/06/02/santos.londons.greeks.c nn

By: vince7777

vince7777 — Tue, 07 Jun 2011 09:27:50 +0000

Multi Millionaire Trader and Investor Vince Stanzione stated “This bailout is not helping Greece they are protecting the French, German and other Eurozone banks that have plenty of suspect loans to Greece that they do not want to rightdown” “in the end the market and the “evil spectators” will take matters in to their own hands and do what the EU will not. Greece will eventually do what Iceland did and will be far better off.

http://www.fintrader.net

By: deltamike

deltamike — Tue, 07 Jun 2011 07:59:13 +0000

Unless the Greek government announces measures to stimulate private initiative and development with a primary focus on exports of high added value products, the trade balance will continue to weigh against the Greek economy and the prospects of a recovery will remain grim.

By: beofaction

beofaction — Tue, 07 Jun 2011 02:17:20 +0000

“…why are so many dubious liabilities being transferred to taxpayers from private creditors…?” Mohamed knows the answer. It’s because governments do what is otherwise illegal in the finance world: They imply to private investors that their bonds are guaranteed as to the timely payment of principal and interest. Furthermore, all debtor nations are running what is essentially Ponzi Schemes which depend on continuously attracting buyers. If private investors flee the debt of any nation it is doomed. Yet, the handwriting is on the wall – not only for Europe, but for all of us.

By: Manoli

Manoli — Tue, 07 Jun 2011 02:02:07 +0000

It is painful to default but, sooner or later Hellas will default. It should not have joined the EU to begin with. Greece was not ready for the the single monetary system. The small countries are at a deep economic disadvantage to the larger industrialized States.
The tax payers bailing out the risk taking creditors is not playing well on both sides of the Atlantic. Everyone is trying to dodge the bullet; in most cases… the gambler usually takes it, not innocent people.
The more demands, on Greece, set by the creditor nations will only create more havoc for the entire system. The EU is going to commit suicide by killing Greece

By: tk2

tk2 — Tue, 07 Jun 2011 00:13:10 +0000

Those concerns about Europe and Greece are simply ridiculous. So what happens if they simply don’t do anything? Yes, Greece goes bust, so what? Europe will survive and so will euro. One cannot avoid an impression that it is a campaign to distract attention from something else, perhaps the looming growth slowdown and, as a consequence, a new trade shock.

By: SteveP

SteveP — Mon, 06 Jun 2011 23:22:44 +0000

Greek Economic structure,made of small enterprises,
is perfect for not paying taxes.El-Erian,please,don’t
forget this problem.

By: AdamSmith

AdamSmith — Mon, 06 Jun 2011 23:05:42 +0000

Well said, Mohamed El-Erian.

You asked the crucial question:

“And, why are so many dubious liabilities being transferred to taxpayers from private creditors, who were paid an interest rate premium to take an informed risk?”

By: SanPa

SanPa — Mon, 06 Jun 2011 21:52:16 +0000

Greece should seek the advice of Goldman Sacks on selling its state healthcare and pension programs. GS has a penchant for selling crappy investments, and might succeed in finding a taker.