Who Will Be Next To Fall After Greece?
Posted by admin on March 10th, 2010
So who do you think will be next…Spain, Portugal, Ireland? It may be Italy due to its massive government corruption and its high debt to GDP ratio. This is what Columbia’s Charles Calomiris, who predicted the Argentina sovereign debt crisis, said on Bloomberg TV. I have attached a link to the video below.
Columbia\’s Calomiris Interview on Greek Financial Crisis
-Samir
March 11th, 2010 at 8:28 am
I think spain is gonna fall before Italy and Portugal. Unemployment rate is higher in spain than portugal. Portugal its a pretty small country. Even though its got problems, it would easy for other European countries to give it a hand. Dont think they have much debt.
As for Spain. As i live here. The governement is very much corrupted. There are many politicians and famous ppl who are being judged or will be judged for taking money from the Govn. Many years ago it was terrorism and inmigrants the hot topic. It still is. But Unemployment and insecurity is top due to recession. Spain already had ETA terrorism to deal with, now they deal with al quaeda too for going into war with Iraq. Another stupid thing that the Spanish Government did was to get involved. There was no need for that. Inmigrants have more rights than the spanish ppl many times. The ones that come illegally they wont bring passport nor ids. Just to they cant be repatriated to their countries. Hence as dont know where they belong. They stay in spain. The government allows it. If you are a child or a pregnant woman. u guaranteed spanish citizenship over the years.
People dont bother working, if a company fires the employee. Not only does the employee gets compensation (according to salary and years worked) it also gets govermnent help starting from 500 (again depending on salary and years). The helps is until 2 years the most at a time. If they have this, why would they work. Not surprised the country is going slow, actually not even moving.
In sept its gonna be 2 years of recession. I suppose its when its gonna show the situation in Spain is. By then most ppl wont have that government help. The fact that the retirement ages from 65 years to 67 is making the community go against it. As people live longer now. They trying to cut off expenses. What they really doing is taking the piss. They complaing how cant the princess of spain spends over 20,000 euros for her expenses when travelling, when that is taken from govn (paid from ppls taxes). I would say i live in a messed up country! lol