Re:Wall St. Helped to Mask Debt Fueling Europe’s Crisis
by bootload on Monday February 15, 2010 @03:25PM
(#1127392)
"... As a non-Greek European, however, I'd rather Greece was in fact bailed out because if Greece collapses, my own economy, which shares a currency with Greece, goes along with it even though there is not all that much wrong with the financial practices of my own government (I'm Dutch). ..."
And that highlights a point many underestimate - the interdependence of finance. What cuts are made to Greece will hit other areas of the EU. Where else?
"... If anyone feels a populist fury that requires retribution against Wall Street then the course is clear: don't bail Greece out. ..."
The populist fury should be over the "bail-out in the US" of Wall St. Greece is pretty much as far from the centre of Western financial influence as you can get.
And that highlights a point many underestimate - the interdependence of finance. What cuts are made to Greece will hit other areas of the EU. Where else?
"... If anyone feels a populist fury that requires retribution against Wall Street then the course is clear: don't bail Greece out. ..."
The populist fury should be over the "bail-out in the US" of Wall St. Greece is pretty much as far from the centre of Western financial influence as you can get.