Large industrial projects are gigantic efforts that involve billions of dollars and years/decades to take effect, massive capital requirements. And risk. "Stat

Large industrial projects are gigantic efforts that involve billions of dollars and years/decades to take effect, massive capital requirements. And risk. "State sector raises salaries, private sector is forced to follow." ... my god man, no, that's not how it works. More like: "Already inefficient state bureaucracies raise salaries, attracting workers from private sector who cannot afford to pay higher wages, requiring massive budgetary increase from government i.e. 'more taxes' just as economy goes into tailspin due to private sector layoffs. Probably the EU needs to re-think the fact that it's designed to send all young workers to Germany or at least out of Portugual/Spain/S. Italy and Greece and leave them as octegenarian tourist centres with illegal Turkish workers doing the actual work. Either 1) the EU starts massive transfer payments or 2) get rid of the Euro and have some limits on mobility, or it will just limp along. #1 might require political and fiscal integration which would probably just exasperate the problem. In the short term, they should probably raise taxes on foreign home ownership.