(09b) Greece (again)
Today I heard the rating agencies are telling the world they consider to decrease the rating of Greece from triple C to D (default). Of course, they may threaten to do this so the ECB and Europe will "take their responsibilities" and give more money to Greece so that country can continue to repay the creditors and thus those who are for a large part to blame for the financial crisis. Of course, if some of those countries had well behaved, they would not have such large debts. But those claiming the money are equally guilty as they didn't demand good financial practices from those countries during good times.
And thus I think the leaders of the Eurozone will meet and the financial sector and countries that are not a member of the Eurozone will advice the members to "save the Euro" or throw out Greek while they themselves will give nothing because they claim they are not part of the Euro. And thus more money will move from countries that behaved well towards poor countries that then pay large amounts of money to creditors who can become even richer. These creditors then refuse to lend money to businesses because they will claim they can't be sure those businesses will survive, reducing the survival chances of those companies. Thus, while in the past the financial sector promoted (even stupid) investments and making debts, now they stop almost completely any investments, even investments in promising companies and products. And so the downwards spiral will continue: countries pay so much to their creditors they can't invest while banks don't want to invest.
When will some people in the financial sector finally understand they are the main reason why things go seriously wrong (maybe they know but still continue) and that only when they acknowledge (not only in words) that they misbehaved (e.g. they should also pay taxes as they are telling everyone else should do or they should stop paying themselves those huge bonuses while telling the rest of the population they earn too much) they can change things for the better. Only when they change their attitude will people accept they too have to change.
But will they change? Maybe for a short time but probably not. They found a way, not only to get our money and make themselves filthy rich but also to rule our countries. They make countries go bankrupt and then tell everyone they know how to solve the problem, e.g. everyone should pay taxes and benefits should be reduced while they do not pay taxes themselves. Many people agree on the benefits because they blame the unemployed for the mess while they should realise many of those people are trying desperately to find a job and were as others employed until the financial crisis. Some countries even decided to stop paying for medical treatments so people may start dying; and many countries are starting to send refugees back to their countries, even to warzone (while we always told poor countries they should take refugees). Of course, people who misbehave should be send back but not those whose life are in danger. At the same time immigrants are welcomed to fill in jobs where there is a shortage (until the shortage is gone?). But certainly when the immigrants are rich, then they are more then welcome.
Again, everyone including the rich should pay their taxes and that would already solve many problems. And the money from those taxes should to used to invest (in good things) so people have a job and they can pay taxes so more investments can be made. Of course, equally some of that money can be used to pay the creditors. But I think that at this moment, so much money is in certain savings that there is a shortage of money on the markets.
And thus I think the leaders of the Eurozone will meet and the financial sector and countries that are not a member of the Eurozone will advice the members to "save the Euro" or throw out Greek while they themselves will give nothing because they claim they are not part of the Euro. And thus more money will move from countries that behaved well towards poor countries that then pay large amounts of money to creditors who can become even richer. These creditors then refuse to lend money to businesses because they will claim they can't be sure those businesses will survive, reducing the survival chances of those companies. Thus, while in the past the financial sector promoted (even stupid) investments and making debts, now they stop almost completely any investments, even investments in promising companies and products. And so the downwards spiral will continue: countries pay so much to their creditors they can't invest while banks don't want to invest.
When will some people in the financial sector finally understand they are the main reason why things go seriously wrong (maybe they know but still continue) and that only when they acknowledge (not only in words) that they misbehaved (e.g. they should also pay taxes as they are telling everyone else should do or they should stop paying themselves those huge bonuses while telling the rest of the population they earn too much) they can change things for the better. Only when they change their attitude will people accept they too have to change.
But will they change? Maybe for a short time but probably not. They found a way, not only to get our money and make themselves filthy rich but also to rule our countries. They make countries go bankrupt and then tell everyone they know how to solve the problem, e.g. everyone should pay taxes and benefits should be reduced while they do not pay taxes themselves. Many people agree on the benefits because they blame the unemployed for the mess while they should realise many of those people are trying desperately to find a job and were as others employed until the financial crisis. Some countries even decided to stop paying for medical treatments so people may start dying; and many countries are starting to send refugees back to their countries, even to warzone (while we always told poor countries they should take refugees). Of course, people who misbehave should be send back but not those whose life are in danger. At the same time immigrants are welcomed to fill in jobs where there is a shortage (until the shortage is gone?). But certainly when the immigrants are rich, then they are more then welcome.
Again, everyone including the rich should pay their taxes and that would already solve many problems. And the money from those taxes should to used to invest (in good things) so people have a job and they can pay taxes so more investments can be made. Of course, equally some of that money can be used to pay the creditors. But I think that at this moment, so much money is in certain savings that there is a shortage of money on the markets.
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