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  • Greece budget vote: A Pyrrhic victory

    From bbc.co.uk

    Sometimes at a concert the audience leaps to its feet as the last note has scarcely died away. An explosion of applause engulfs the performers. The Greek parliament had only just voted in favour of the new austerity package when the German Chancellor Angela Merkel was shouting "bravo!" from Berlin. She showered praise on Greek MPs for their "brave" vote. She praised the decision as "an important step for the stability of the eurozone". The President of the European Council, Herman Van Rompuy, was on his feet too. "The country," he said, "has taken an important step forward along the necessary path of fiscal ... (full story)

yes this is a praisable decision.... it will be beneficial for Greece if they minimize curroption and start doing something for the growth of the economy so that they cannot come to this bailout stage again.....
*ALL IS WELL*
  •  Guest
  • | IP XXX.XX.7.132
By when euro will stop deceiving public. It is surely when people accounts will be no more.
  •  Guest
  • | IP XXX.XXX.73.223
agree wid zaib
Having repaired a tyre, wouldn't make the car go faster.
Sorry for the silly example but that's all I can think of right now!
  •  Guest
  • | IP XXX.XXX.211.78
why will the greeks (or anybody else) do anything different if the eurocrats keep enabling delinquent behaviour with bailouts..nothing will change until the euro and the greeks (among other members) are left to their own devices..maybe then they will get productive and competitive, save some money, and collect taxes...seems too late to act now, but maybe China will realise it really is watering a dead tree.
" On a level plain, simple mounds look like hills, and the insipid flatness of our present bourgeoisie is to be measured by the altitude of its great intellects. "

Karl Marx
So; Angela Merkel is praising the Greeks. I wonder if she will still be doing this in the coming months.
  •  Guest
  • | IP XX.XXX.144.16
the Greek vote saved the German, Italian and French banks, Yeey!.. What a load of crap... I wonder how will Greece come out of this, now even bigger debt in the future. I mean really will there be so many investors in Greece to turn them around in a couple years? I doubt. Besides will the Greeks agree to retire at the age of 70 from now on, and instead of 14 salaries/ year receive just 12? Oh and by the way, didn't the Euro Zone just agree to print more money? So why exactly the EUR advances. And how much more they will have to print to get Spain, Portugal, Ireland, Italy out of the trouble? Hmm... I wonder.
dear guest,

i agree with you that euro zone is watering a dead tree..........
but dear i think now Greece has learned the leason and they will surely do something to pay their debt in future by their own earnings.....

this situation is same like the situation of family when one children out of four indulge himself into bad habits of society.. and the parents try to give him relaxation again and again, so that he or she understand and amend himself to the right path.

but in the end if he doesnt understand and put himself out of that bad society, he will thrown out of the house..

so same is the case with Greece now......... this is there last chance to prove
*ALL IS WELL*
  • New Comment
  •  Guest
  • | IP X.XX.74.25
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  • Story Stats
  • Posted: Jun 30, 2011 7:44am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 9  /  Views: 3,989