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Greece problems ran deeper than just entering the Euro, massive corruption and tax avoidance played a major role creating that crisis. Its estimated that ~25% o
by walkingolof 8y ago
Greece problems ran deeper than just entering the Euro, massive corruption and tax avoidance played a major role creating that crisis. Its estimated that ~25% of the Greece GDP where not subject taxed, effectively a shadow economy.
- PaulHoule 8y agoThis is a factor in Italy too.
- petre 8y agoHow about Italy and Portugal then? The truth is that the Euro was a political decision with disregard of ecomics. That's why Margaret Tacher refused to adopt the Euro for the UK and warned that it would end democracy in Europe. https://m.youtube.com/watch?v=5TPpuIslzG4 https://m.youtube.com/watch?v=5TPpuIslzG4
- taysic 8y agoIt's worth noting that when a country has control of its own currency, its issues are more self-contained. It doesn't get easy money based on the performance of other countries within the EU. It also can devalue its own currency if it can't pay back its own bonds.