Greece expected to default even after a second IMF/EU bailout

http://www.independent.co.uk/news/business/news/greece-expected-to-default-even-after-a-second-imfeu-bailout-2299570.html

 

I was watching BBC America and this was the main subject. I then read some more about it. The EU gave them money that they knew Greece could not pay back.

 

Germany is pissed since Greece could not pay. The Euro will crash for sure.

 

Germany is getting tired of supporting those other nations, especially ones that are deemed irresponsible.

 

I bet the Germans wished they kept their currency instead of joining the Euro.

 

Not just the Euro, even America will suffer from all this because we do hold investments there.

 

We so don't need this. I wonder what the solution is? How do we stop all these economic problems unless its the goal.

 

There's no clear answer. The whole world is pretty much integrated with the economic trade relations.

 

I think the problems in Greece and although not well publicized, in Italy, Spain and Portugal (and maybe every other member state except Germany) resemble the problems we have in the United States.

First, I believe that each affected country has ambiguous legislation governing banks, businesses, and taxes.

Add the element of corporate philosophy, which seems to endorse maximizing profits, globalization and market share with no regard for who gets hurt by their grab for more, politicians who are easily influenced by the flash of cash, throw in a few ringers like the IMF, China, and corruption and you have the mess we're in right now.

As always, it's the people on the ground floor, the poor, the elderly, working poor and middle class who suffer the most as billions change hands in those penthouse suites.

Greece is just one tile in that row of lined up dominoes ready to bring down the world economy though... With unrest in countries like Libya and Yemen, where oil is the commodity worthy of wars, disruption in the flow could further exacerbate the mess.

If the EU does bail out Greece and I believe they have to to avoid a world financial catastrophe, they will only be putting a tourniquet on a fatal wound to give investors time to unload the bad debt. And it wouldn't surprise me at all if China bought it all up, to call in their markers at some later date...