Tag Archives: Greece

Greece Disaster Shows Unavoidable Consequences of Socialism

From The Daily Signal, by Stephen Moore / / July 11, 2015 –   

Greece

The Greek citizens have rolled the dice and voted overwhelmingly to reject the “austerity” referendum. This was a way for voters to stick a finger in the eye of their creditors. The left around the world has responded to the vote with thunderous applause—and is selling the results as a vote for “the little guy.”

The Greeks believed that voting against the debt restructuring plan would give them more leverage with the banks, the IMF and the EU. But what happens now in Greece? The banks are shutting down this week. Withdrawals from bank accounts are being tightly restricted.

Greece is formally in default on its loans and in the weeks ahead as more IMF and EU loans come due, Greece is about to slide into fiscal oblivion. This is the natural and unavoidable consequence of socialism everywhere it has been tried.

Financial collapse.

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Germany must decide if it really wants to save the euro

Berlin and the ECB hold the key to the future of the single currency. Will the latest crisis finally force their hand?

Germany has to start offering some carrots as well as all the sticks it seems so ready to brandish Photo: Reuters

From The Telegraph, By Jim O’Neill, 3:22PM BST 28 Jul 2012 – So, the big question is – how do you solve the Spanish crisis? In fact, how do you solve the whole euro crisis?

The simple answer is, first, I don’t think there is anything much more Spain can do. Second, the solution to Spain’s dilemma is, I believe, the solution to the euro problem.

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