Greece defaults

This is a real avoidable Greek tragedy, and similar to money lending scams outlawed in most countries .

How on earth did a country borrow so much money, that towards the end it was even borrowing money to pay its debt payments. Yes, Greece is now "in arrears” with its payments and in true idiot style the IMF now charge interest on the none payment making the debt worse.

The sly culprit is of course Europe it self

The whole ethos of the Euro monetary system was to get the economies of the Europe to converge into one political state, but in effect with economies running at different speeds the Euro has forced the countries further apart than ever before and some to the brink of collapse

Smaller countries with semi agricultural economies cannot keep up with the German industrial powerhouse , Germany wont give away its money to balance the other economies, it lends it at a cost and that cost is big, the only way the Euro will succeed is if the strongest economy controls the lot, for many a step to far

It would be like the UK lending money to Scotland or Wales then asking them to pay it back?

Strange thing is even when Mr Cameron says the UK is doing well, he forgets to tell you all our former commonwealth countries are doing better than the UK (OUTSIDE THE EU) in free trade zone.

Canada and Australia are almost running a surplus economy, something the UK has not done for years and is becoming even more doubtful with the news that borrowing under the Conservatives continues to raise our debt

Just how much of the UK's borrowing goes to pay our EU membership fee?

The main heartening bit of good news to come out of this is its taken a left wing Government to work to the will of the people and Greece is holding a referendum on the EU this weekend , the more astute will wonder why it takes Britain another 2 years, but I'll leave that for another day.

One thing of note was the queues of OAP 's trying to get money out of closed banks to buy food, If other EU countries can watch idly by while Greek OAP's go hungry inside the EU, it proves perfectly the EU puts political ambition ahead of its people and is not the club our UK should be in

Blogger said

We wish the Greek people well and we wait to see if  Mr Cameron sends in humanitarian aid to help to Greece ?