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06-15-2010, 01:43 PM
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#1
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My homepage has been set to RS
Join Date: Oct 2001
Location: Home
Posts: 2,216
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EU chief warns 'democracy could disappear' in Greece, Spain, Portugal
Quote:
Democracy could ‘collapse’ in Greece, Spain and Portugal unless urgent action is taken to tackle the debt crisis, the head of the European Commission has warned.
In an extraordinary briefing to trade union chiefs last week, Commission President Jose Manuel Barroso set out an ‘apocalyptic’ vision in which crisis-hit countries in southern Europe could fall victim to military coups or popular uprisings as interest rates soar and public services collapse because their governments run out of money.
The stark warning came as it emerged that EU chiefs have begun work on an emergency bailout package for Spain which is likely to run into hundreds of billions of pounds.
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http://www.dailymail.co.uk/news/worl...-Portugal.html
They are currently putting a bailout package for Spain. Europe = GG.
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06-15-2010, 01:56 PM
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#2
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Banned (ABWS)
Join Date: Oct 2006
Location: MacLeod
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no dime?
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06-15-2010, 02:51 PM
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#3
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I only answer to my username, my real name is Irrelevant!
Join Date: Oct 2002
Location: CELICAland
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Thanked 10,404 Times in 3,923 Posts
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that's what happens when you get an IMF loan democracy in a sense disappears because you have to do everything by Their book and their book doesnt take into consideration what you've done and got they basically just say "hit reset and follow this"
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06-15-2010, 03:27 PM
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#4
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Ubereem Mod
Join Date: Mar 2002
Location: Richmond
Posts: 3,070
Thanked 120 Times in 63 Posts
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1 of the bigger problems is the Euro, if spain and greece was allowed to depreciate, they might not be as in big of a problem as they would become major exporters with cheaper labour inside the EU.
Britain was smart not to lose the pound.
__________________
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