There seems to be support growing in Brussels for some kinda economic Greek bailout to support their scandalous deficit. The Euros tumbled against the £ recently as a result of Greeks politicians repeatedly fixing the statistics to show the deficit was lower than it actually is.
But a bail out would be rewarding this behavior. Should the rest of the euro zone be made to suffer because of the incompetence of Greek politicians?
After all the Other struggling economies like Ireland and Latvia received no such help and recently passed extremely auster budgets, slashing pay and benefits to pay for the recession. Meanwhile Greece passes a populist budget that INCREASES spending.
Obviously its unthinkable that a euro-zone country should have to go to the IMF, but this sets a terrible precedent. What incentive do other countries have to be fiscally responsible?
But a bail out would be rewarding this behavior. Should the rest of the euro zone be made to suffer because of the incompetence of Greek politicians?
After all the Other struggling economies like Ireland and Latvia received no such help and recently passed extremely auster budgets, slashing pay and benefits to pay for the recession. Meanwhile Greece passes a populist budget that INCREASES spending.
Obviously its unthinkable that a euro-zone country should have to go to the IMF, but this sets a terrible precedent. What incentive do other countries have to be fiscally responsible?
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