Greece Gets New Bailout

Don't know if any of you caught the business news last night on BBC / CNN / SKY when they were interviewing the Bulgarian Finance minister. I last did economics at varsity but what he spoke of made sense and he seems fearless enough to face up to the bigger EU nations. he was being quizzed on why he would still want to take Bulgaria into the EU in the midst of all this and he brought up some very valid points. And what i got from him was that the main reason all this is happening is that the politicians do not take the word of he ministers and hence - as has been said before on this forum - just pass the buck while not dealing with the issues at hand. Maybe the EU needs more people like him attacking the politicians to ensure that things are done properly...
 
powermzii said:
Don't know if any of you caught the business news last night on BBC / CNN / SKY when they were interviewing the Bulgarian Finance minister. I last did economics at varsity but what he spoke of made sense and he seems fearless enough to face up to the bigger EU nations. he was being quizzed on why he would still want to take Bulgaria into the EU in the midst of all this and he brought up some very valid points. And what i got from him was that the main reason all this is happening is that the politicians do not take the word of he ministers and hence - as has been said before on this forum - just pass the buck while not dealing with the issues at hand. Maybe the EU needs more people like him attacking the politicians to ensure that things are done properly...
Click to expand...

Hogwash. Monetary union was a doomed enterprise from the start. Besides, Bulgaria is not part of the EMU.
 
Hard Rain said:
Hogwash. Monetary union was a doomed enterprise from the start. Besides, Bulgaria is not part of the EMU.
Click to expand...

I never said it was - all i am saying is he brought some good point to the table that the countries in the EMU maybe have forgotten around fiscal restructuring since his and other former soviet countries have gone through it before.
 
The whole point of joining an EU is too be financially irresponsible.

If you are on your own currency, then if you stuff it up, YOU pay for it and no one else. But by joining the EU, you can basically socialise the costs (Spread it over everyone else) and let others bail you out or risk their own financial system of going down immediately with you.

Its a strategy that encourages fiscal and monetary irresponsibility, not the other way round.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X