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> The Greek debacle was created by the EU's banking and finance industries. No, it was created by the EU who bailed out the banks, paying them money and forcin
by tomp 11y ago
> The Greek debacle was created by the EU's banking and finance industries.
No, it was created by the EU who bailed out the banks, paying them money and forcing the loss on the taxpayers.
> Most of the scandals were in the banking and finance industries, not - say - the EU parliament.
The EU parliament is a scandal in and of itself - "let's waste some money and have two parliament buildings in two cities!"
- tonyedgecombe 11y ago>No, it was created by the EU who bailed out the banks No, it was caused by the Greeks living beyond their means.
- justinhj 11y agoYou can't live beyond your means without help from a complicit financial body enabling you to do it
- madaxe_again 11y agoOf course you can. This is what sovereign bonds are for.
- AnthonyMouse 11y agoIn which case the financial body is whoever is buying the bonds.
- tomp 11y agoWell... Greeks created a Greek problem. EU extended this problem to all EU citizens.
- golergka 11y ago> forcing the loss on the taxpayers. So, the people who originally took the loans from the banks. How horrible! People, being forced to pay their debts.
- tomp 11y agoWell, the alternative interpretation is, bankers who originally gave loans to people who couldn't pay, were "compensated" for their (too) risky behavior.
- golergka 11y agoIt's still those people's ethnical obligation to pay what they owe.
- rwallace 11y agoWhen irresponsible or predatory lending has taken place, there is blame to be allocated on both sides. That means we are not justified in simply throwing the entire burden of solving the problem onto the borrowers.
- pjc50 11y agoNot usually the same individuals! e.g. In the case of Kaupthing, quite a lot of UK local governments were directly using them as a deposit bank and lost money when the bank collapsed. These deposits were made whole by the UK central government.