can someone please explain why the banks are to blame for Greece

The_White_Horse

the fact they borrowed is NOT the banks' fault. It is Greece's fault. Ok, some lefties may be able to argue (wrongly) that poor simple joe public was somehow hoodwinked and forced to borrow to buy the latest ipad and holiday in Spain - but are you telling me a country was tempted to borrow by terrible banks??? And most of the borrowing was to support their massive overspend on the public sector.

Yes, the banks made a bad deal and should suffer. The greeks also made a bad deal and should equally suffer.

The countries with the biggest public sectors, least tax revenues, highest benefits and pensions are the ones in massive problems now.

the public sector is their to service the public at a minimal level. that is all. they day they started thinking they were equal to (no, better than) their pay masters, is the day the west died.

If a country collects 10bn in tax, then it should spend 10bn. not 14bn every year, creating a huge debt and continual budget deficit ad infinitum.

There has been pain in the private sector - now the overbloated public sector must pay!

Loopgames

The_White_Horse wrote: »

If a country collects 10bn in tax, then it should spend 10bn. not 14bn every year, creating a huge debt and continual budget deficit ad infinitum.

Something the banks should have questioned really - unless the greeks lied - which also wouldn't be surprising.

Mallotum_X

The_White_Horse wrote: »

the fact they borrowed is NOT the banks' fault. It is Greece's fault. Ok, some lefties may be able to argue (wrongly) that poor simple joe public was somehow hoodwinked and forced to borrow to buy the latest ipad and holiday in Spain - but are you telling me a country was tempted to borrow by terrible banks??? And most of the borrowing was to support their massive overspend on the public sector.

What is it you are angry with, Greek personal Debt, or Greek Government Debt? Why are the Banks not at fault for stupid lending decisions?

Yes, the banks made a bad deal and should suffer. The greeks also made a bad deal and should equally suffer.

The countries with the biggest public sectors, least tax revenues, highest benefits and pensions are the ones in massive problems now.

the public sector is their to service the public at a minimal level. that is all. they day they started thinking they were equal to (no, better than) their pay masters, is the day the west died.

If a country collects 10bn in tax, then it should spend 10bn. not 14bn every year, creating a huge debt and continual budget deficit ad infinitum.

There has been pain in the private sector - now the overbloated public sector must pay!

Why do you care so much about the Greek Public sector? What are you personally doing about it if it bothers you so much?

The_White_Horse

all these idiot crusties outside wall street and st pauls blaming the banks for everything. it is pathetic. the people who borrowed are solely to blame. this is the problem in this day and age. no one will take responsibility.

of course, the flip side is also true - if banks lent to people that now cannot afford to repay - that is their tough luck and they should fail.

it is that simple.

The_White_Horse

Mallotum_X wrote: »

Why do you care so much about the Greek Public sector? What are you personally doing about it if it bothers you so much?

i'm doing nothing at all except ranting about it on an internet forum. what do you suggest I do?

Loopgames

I remember driving about a few years ago in london and listening to the radio when people were complaining about rising house prices and blaming the estate agents - remember those days.

It made no sense to me why people blamed the estate agents when the tools to actually buy a house was given to us from the banks themselves and those tools are now taken away from us and we've started blaming the banks for not giving us the money to continue to inflate house prices so that we can blame estate agents again from increasing house prices. I love the circle of life - cue Elton John....

Mallotum_X

The_White_Horse wrote: »

i'm doing nothing at all except ranting about it on an internet forum. what do you suggest I do?

Send them a fiver?