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Truth be told, the majority of Greece's problems sprung from how past greek governments cooked the state's books to hide its perpetually massive deficit and eve
by geezerjay 8y ago
Truth be told, the majority of Greece's problems sprung from how past greek governments cooked the state's books to hide its perpetually massive deficit and ever increasing debt in order to keep borrowing more cash and keep the structural deficit high.
- charlesdm 8y agoThe fact that Europe didn't even check the books (or worse, didn't care about their accounting) is more worrying, though!
- geezerjay 8y agoWhat do you mean? Europe doesn't have the right to just waltz into a member state's finance ministry and rummage through the documents.
- jandrese 8y agoAnd that's the fundamental problem with the shared currency without shared monetary policy. Someone cheats and it makes a huge mess for everybody.
- charlesdm 8y agoAnd yet, it seems like basic due diligence seems like a good approach when "acquiring" an extra member state when one bad member can bring the whole house down.