They are screwed just like the US. All of us just like to put it off for as long as possible and make it worse for the kids. Is it not great how we always think of the kids first!!

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When your out put exceeds your income, your upkeep becomes your downfall.

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Yep.

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In the worst economy since the great depression the international conglomerates and banks are making record profits. These people are determined to keep sucking the entire world dry like the vampires they are and the only remaining question is whether they'll actually kill the world economy in the process. If so a reasonable estimate is the wealthy will lose half the value of their assets, but it is the poorer countries like Greece and Spain that will suffer the most. The US, of course, is waiting for everyone else to reposition themselves beforing committing to a course of action.

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Its the world we live in most countries are right there with them:-)

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Lack of revenue coming in. No enforcement of taxation. In Greece, they get to self-report the value of their property and their income. Austerity hits only the working people. Th people that actually properly report their income and property value. Austerity cannot work, and Spain and Greece are prime examples. The EU will crumble unless Germany (or more likely Deutsche Bank) stops their bullying.

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Ah yes, the Germans. One can understand other countries' reluctance to take orders from them. When one's home and hearth have been stomped over by the hob-nailed boots of the Wehrmacht, it leaves a bitter taste in one's mouth for generations....

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Spain first.<br />
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The wealthiest region in the country is about to declare itself an independent nation. Those that want to stay are basically calling for their government to be tossed out on their butts. I don't see much option besides default.<br />
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Greece paid Goldman Sachs to cook their books and took out a huge loan to spend outside their pay grade to keep up appearances which landed them in this mess when the bottom fell out. Their government knew they could not keep it up forever but left the public holding the bag for the mess even though the Greek people had no idea they government cheated its way into the big boys club. I just hope that the neo nazi group does not use the misery and chaos to seize more power. They seem to be the type that would try and use all that shiny military hardware they bought from the Germans to settle their debts.

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Settle debts or settle old scores?

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From some of the rhetoric coming out of some corners of Greek politics the debts are just a continuation of old scores. So as far as they are concerned same difference.

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Female suffrage leads to socialism. Socialism always leads to economic failure. Economic failure results in riots, war, and destruction. Spain and Greece are ahead of some other nations, but the US and the rest of Europe are rushing madly to catch up.

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Has that exhaust been blowing into your face for a long time, Dan?

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Economic reality eventually catches up with liberal loony toons.

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I think this is the stupidest thing I've ever read on the internet.

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The people there suffer from 25% unemployment and wages have been cut in half for the working poor. They are struggling but refuse to give up the Euro (at least for now). The Greeks don't import enough to have a sustainable economy. It is really sad, and I'm sure America will follow suit eventually.

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I think Mystic and tonyt both have good points. Friends of mine who have lived in Greece for years and others who have traveled there confirm that tax collection is a joke. The government doesn't really get around to taxing the wealthy as it should--if at all--and the wealthy are not about to remind the government that they owe taxes. A friend of mine received a parking ticket in Athens, went to pay it, and even the parking authorities were shocked. Nobody EVER pays their parking fines. Scale that sort of activity up to the whole nation, and it's easy to see what happens.
Now, the poor and middle class people---who are easier to squeeze and have fewer cronies in government---have to take the hit for decades of corruption and cronyism. "Same as it ever was..."

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we are in that "trouble" since our tribe came over Ural and settled here

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