Looks like another public sector (Italy) is about to bring down the country

The_White_Horse

Bonds now over 7%.

All because of the PUBLIC SECTOR

robin_banks

The restaurants are full.

Wookster

Italy's problems are so much more than a bloated public sector.

Add in corruption, !!!!! and cronyism and then you're getting close.

The_White_Horse

but the public sector is a massive part of it. just like Greece and just like Ireland. Probably the same in Spain and Portugal but I don't know too much about them to be honest.

The UK is heading the same way. The public sector want their pay rise, want their massive pension, want to contribute next to nothing and don't care one jot that there is no money to fund it. their answer - borrow more.

now, i don't necessarily think it is wrong for Govt to spend in recession - but not on that nonsense. If the govt were spending onroads, infrastructure, houses etc that would be acceptable. funding greedy people's pensions and pay and 2 weeks of olympics does not come into that definition.

Percy1983

You still confuse me with this, should all public services accross the world be stopped?

If so if somebody got run over should we only pick them up off the road if they have a credit card on them?

andybenw

The_White_Horse wrote: »

Bonds now over 7%.

All because of the PUBLIC SECTOR

Unfortunately the public sector is required.

Armed Forces- I take it you are not speaking German.

Police- Unless you want looters and rioters on the street.

NHS Workers- To fix you when you break. Even if you are ok now, we all get old.

Teachers- So that the future private sector workers can read and write.

Not to mention all the rest, binmen, firemen etc etc etc


Fair enough there may be a few LGBT workers to get rid of etc.

And for public sector pensions, before any reforms come in remember they have already been slashed by a probable 15-20% by linking to the CPI rather than RPI.

oldvicar

http://www.youtube.com/watch?v=V0kbC0hQHRg&feature=related

CLAPTON

how much is the Italian deficit?

Old_Slaphead

andybenw wrote: »

And for public sector pensions, before any reforms come in remember they have already been slashed by a probable 15-20% by linking to the CPI rather than RPI.

Can you support this with a calculation ?

J_i_m

Yes, it's all too easy to blame public sectors.

I'd point out that we actually have a two year pay freeze in place and pensions are being addressed in some form of manner. The problem is that if you take too much money away from the public sector, then we're no longer be able afford as many skilled nurse's, teachers, police officers, fire fighters etc... Care levels would be in serious danger of falling the cliff, they aren't perfect as they are. But if too much funding is taken away and more harm happens because of it the very same people complaining now would be even more outraged.

And we really do need to get rid of this silly notion that public sector workers are leeches on society. The emergency crews who attended the M5 crash are leeches are they? No of course they're not, they responded to the call terrifically, but who would have attended if the public sector is wasted by drastic cut backs?

In my view the wages and pensions are not the problem. It's the money elsewhere that gets wasted. ID cards, new NHS computer system are prime examples. Hospital car parks are a disgrace, extoriante fees and money doesn't even go into the hospitals... it goes into private hands.

My point is that they are far more pressing areas of funding mismanagement in public services than the wages of it's staff.

Ilya_Ilyich

CLAPTON wrote: »

how much is the Italian deficit?

Italy runs a primary surplus so its deficit is dependent on how high the markets push their cost of debt servicing.