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Should the European Union bailed out Greece?

posted 5/5/2010 8:09:15 PM |
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tagged: news, straddle, economy, government
  StraddleMyNose

We all know that Greece is having a lot of problems as of late, but should the European Union had bailed out Greece with the $145 billion, and put stipulations on them such as raising sky high taxes on it's people, and force them (Greece) to make cuts everywhere?

Should Greece accepted these terms, or should they just roughed it out and possibly went backrupt? I know the rest of the countries in the European Union that uses the euro in currency can't afford to let Greece take down all the countries that are tied into the euro currency. Two other countries are on the verge of collasping right now ( Spain and portugal).

Personally, if I was Greece, I wouldn't have agreed the the huge taxes on it's people, and the drastic cuts all at once. Greece should have worked out a better deal for their government and it's people. Our stock market was effected yesterday and today because of this crises over there.

Btw, more violent protests and unrests in the streets today in Greece.

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Comments:

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sugarnspice005

May 5 @ 8:42PM  
That's a hard call really. I don't live in Greece, so, I only know what gets reported here. I doubt if we're getting the full story. We're only going to hear about what influence their economy would have on ours. Plus, like you mentioned, they, and other countries over there are bound to one currency, the euro, and if one goes bankrupt...it could be a devastating domino effect over there...and who knows what it could have done over here. I remember reports that Europe was freaked out over a possible collapse of our own economy here..part of why Bush signed TARP into law.

onehornytoad69

May 5 @ 8:44PM  
Man, I Cant keep up with the Problems Here in the USA....!!! Sorry I'm no help!
Wordsofwit

May 5 @ 9:00PM  
To be honest, I am aware of their problems, but I don't have enough information to form an educated opinion.
onehornytoad69

May 6 @ 12:33AM  
This a good Blog... But I did Notice that your View's were down a bit!!!!
StraddleMyNose

May 6 @ 1:45AM  
This a good Blog... But I did Notice that your View's were down a bit!!!!
Thanks, OHT. I think the clicker thinks that since he/she already clicked on my first blog tonight, they thought there was no reason to click a number of times on this blog.

40DWM

May 6 @ 10:00AM  
The Libertarian in my says, let them work it out for themselves.

I think all these failing economies (including ours) show that socialism/communism really do not work.

StraddleMyNose

May 6 @ 2:57PM  
A bit ago the stock market dropped almost 1000 points with part of the reason being the Greece credit crises. It's starting to rebound a bit and is currently down 385 points.

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Should the European Union bailed out Greece?