Who Loaned Greece the Money?

Damned fools imho

depressing

Sheer scale of it - check about US debt:

US debt visualized: Stacked in 100 dollar bills @ 15 Trillion Dollars - Equal to US GDP 2011

PIIGS

European Debt Crisis: Who Loaned PIIGS the Money?

Interesting to know what bribes were paid to politicians to get Greece into the eurozone !

It really does look like a failure of multi-party democracy. If it had been a right wing Govt that got Greece into its current mess I could see a surge to the left but it wasn't. They had a Socialist Govt. Over spending as usual.

The case for a 1 party state as in China, grows ever more compelling. The EU has so much in the way of human rights - it's fart1ng moral issues, but it's bust. China has little in that regard but is rich.

Free and poor enough to starve or rich and controlled. A new experience all round it seems.

Only after checking these interesting visual presentations, I realized that US debt is far bigger than PIIGS' debt. Does that make EURO less bad than USD? Should we dismiss media speculation about EURO collapse and pay more attention to what happens to USD? Or should we dismiss paper money and buy gold instead?

Some other sugestions?

PS Would it be really bad if both EURO and USD collapse?

Most likely they will continue printing paper money in a coordinated fashion making sure they keep falling at the same speed.

It's a perfect example of how the political classes always 'need to be right' regardless of the cost.

A Greek mayor is invited to visit a counterpart in Italy. After the official duties are performed the Greek dignitaries are invited back to the Italian Mayor's villa for a party. The Greeks are astonished, the villa is enormous, huge marble statues adorn the main rooms, only the best food and wine is served. 'But,' gasps the Greek official, 'you're the Mayor of a small town, how have you earned such wealth?' 'Ah, my friend,' answers the Italian, 'see that new bridge over there in the valley? The EU gave us the funds for a dual carriageway crossing, but our sleepy little town doesn't see any traffic. So we built that little bridge and with the savings....' and he flamboyantly waves his arms around indicating his elegant surroundings.

A year later, the Italians receive an invitation to visit the Greek mayor. Returning to the Greek's villa for a final banquet the Italians are astonished. It is just like the Italian Mayor's but bigger and even more ostentatious, everything is dripping with gold fittings. 'How did you finance this?' asks the astonished mayor. 'See that bridge over there?' smiles the Greek. 'No, what bridge?' answer the Italian. 'Precisely!'

I lent them a packet of fishermans friends and a thermos flask which I doubt I'll see back.

I do believe that it was a printing press that loaned Greece that money. Who's I'm not sure, but does that really matter in the end?

hwsteele said:

I do believe that it was a printing press that loaned Greece that money. Who's I'm not sure, but does that really matter in the end?:thumbsdow

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Maybe it does if it's your money.

why what you gonna do about it?

scose-no-doubt said:

why what you gonna do about it?

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?

bbmac said:

I lent them a packet of fishermans friends and a thermos flask which I doubt I'll see back.

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they will ask you for a refill......

money is still the route of all Evil

thank god for that ...i'd hate to be trading in the dark !

N

the passage is actually "the love of money is the root of all evil"

NVP said:

money is still the route of all Evil

N

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I thought it was the M25...