Greece is only the first in serious trouble, Ireland, Portugal, and Spain are next. New Zealand went through this years ago and they recovered by selling off state assets, changing their health system, and getting rid of subsidies to farmers and businesses. What the Greeks fail to understand is that no-one is willing to buy their bonds anymore.
“After all, the scale of Greece’s problems means that markets may be reluctant to lend to Greece after the second bail-out package expires. What’s more, given the widespread opposition to the additional austerity measures, there remains a risk that the Greek government might eventually choose to default, regardless of whether a bailout package is in place.”At some point, Germany is going to stop propping up these EU nations and start saving itself. If you have a mortgage and can't make the payments, sooner or later someone is going to come and boot you out onto the street, and everything will be lost. Greece should start packing its bags.
I guess we should look at Canada and see how the greedy unions are acting the same as the Greek people, expecting the government to bow down to their demands. At some point, the goodies have got to end, and the socialists just don't understand why. The NDP wants the postal strike to continue. So far it hasn't impacted our family except for fewer flyers. It is however impacting businesses big time, but it appears that the NDP would prefer to support unions over businesses. Why am I shocked?
Unions take dues from people who have no "right" to opt out. If that isn't communism/socialism, I'm not sure what would qualify. Unions can even force members to donate to the political party that they dictate to be, the one to vote for. Unions could use the money they appropriate from their members to fund pensions, but that would put the onus on them to succeed, and that is simply beyond them.