Stacking on debt for social programs? Bailouts? Etc?. What caused the friviolous spending?|||Too many social programs.|||Their economies were tied to ours, when the American market tanked, some countries rode it out (Switzerland, Germany, Denmark, Sweden, Norway) some of them made huge budget cuts in a panicked attempt to fix the problem (Greece, Italy). Those who rode it out bailed out those who panicked (Greece) which weakened them a bit.
On the whole, Europe is doing alright. Low unemployment, high standard of living, etc. but they've got a ton of debt. They'll grow out of it, but the Greek austerity measures hurt the whole continent.|||"Creative" book-keeping, unethical banking, bad loans and an inability to realize it was all a bad idea to start with. Social programs had been a fact of life for years, so no one can blame that.|||Europeans.|||Goldman Sachs
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment