Public debt: bankruptcy of Greece ... who's next?

[bamboo]

Yes, Tagor, aid (involuntary ...) came from the private sector, but the institutions have also mobilized.

Here is a document showing some help.

http://www.eeas.europa.eu/argentina/csp/07_13_fr.pdf

We see in particular

THEItaly is currently implementing 37 projects in Argentina, to which are added six projects
in the development phase, for a total of 140 million euros. [...]
THESpain is currently executing a total of 24 projects representing almost 27 million euros. [...]
THEGermany has committed significant resources in cooperation with Argentina [...]
La France cooperate [...]
Le United Kingdom focuses its activities on good governance and the development of institutions. Austria, Belgium, Finland, Greece, the Netherlands, Hungary, Ireland, Poland and Slovenia also operate in Argentina with 26 smaller programs [...]
Le Japan: JICA, the Japanese Agency for International Cooperation, intervened with aid [...]
La Inter-American Bank development: the Bank's cooperation strategy for the period 2004-2008 provides an amount of 5 billion of US dollars [...]
La world Bank: the assistance strategy per country releases a total amount of 5 billion of US dollars over a five-year period ...

Europe is not in this situation ... When a so-called rich country wants to get out of it, it must manage on its own ...

[dedeleco]

Last night on France2 TV, we were talking about cutting the € in half, the € and the north to 6 and the € from the South !!
In the list of 6 Belgium was not explicitly mentioned !!

[Christophe]

indy49 Argentina came out of its crisis on its own !! Your examples are trivial in terms of numbers (this seems to me to be completely "normal" numbers, ie exchanged in times of non-crisis)!

She got out by transferring the incompetent to power, by handing over competence to the head of her State and by reforming herself deeply!

Some say (tweezers) that once again the USA was behind all this for a reason of agricultural production ... at least that's what I heard in the early 2000s ...

Otherwise bankruptcy means what it means: you no longer pay your creditors (and goes into liquidation ...) ...

I integrated the video into a little news: https://www.econologie.com/solution-a-la ... -4382.html

Tell me if you agree with this passage, and if necessary I adapt it ...

Currently the political and media discourse is doing the opposite: by its ambient catastrophism, it sinks confidence and therefore future growth ...

As econologists, we are not for an infinite growth that has no reason to be right in the figures but we prefer moderate growth than a voluntarist pauperization of peoples! Human well-being is the priority!

Defeatist austerity policies are not solutions to a major economic crisis like the one looming on the horizon ...

[Christophe]

In the list of 6 Belgium was not explicitly mentioned !!

Normal: Belgium is well known for its Mediterranean climate, didn't you know?

Without laughing: I think above all that it was not cited by not consulted: since it still has no official government ... (but it is on the right track there)

[bamboo]

indy49 Argentina came out of its crisis on its own !! Your examples are trivial in terms of numbers (this seems to me to be completely "normal" numbers, ie exchanged in times of non-crisis)!

She got out by transferring the incompetent to power, by handing over competence to the head of her State and by reforming herself deeply!

I'm not saying that she didn't make an effort.
It has (fortunately!) Made a lot of reforms, but to receive in a few years aid which represents ~ 10% of GDP of 2002 (~ 10 billion in aid out of a GDP of 100 billion in 2002 (source wiki)), it is not "niniotte". It's huge. Who could give us the same help? No one...
We have to manage on our own by making the necessary reforms.

Currently the political and media discourse is doing the opposite: by its ambient catastrophism, it sinks confidence and therefore future growth ...

As econologists, we are not for an infinite growth that has no reason to be right in the figures but we prefer moderate growth than a voluntarist pauperization of peoples! Human well-being is the priority!

Defeatist austerity policies are not solutions to a major economic crisis like the one looming on the horizon ...

Certainly austerity does not build confidence, but it is necessary to restore public finances. We are already in enough debt.

[Christophe]

Austerity is a scam, it's a political scam !!! Or else it must only concern the expenses of the State, ie civil servants!

Austerity for the private sector is an economic disaster which France really does not need !!

If you want to clean up the budget of a State then increase its receipts it is not by limiting growth therefore confidence (or vice versa)!

There is nothing else to say!

Austerity is made to satisfy some banksters (self rating agency style proclaimed queen of the world = it's nothing less than an economic dictatorship in place) so that they put it shallower but we will take it in any case !!!

Sorry to be believed but there is enough the foutage of mouth !!

[bamboo]

France has already tried on several occasions to artificially maintain consumption (left and right: Mitterand (eg increase in minimum wage), Jospin (eg youth jobs), Sarko (eg overtime)). It has only ever resulted in debts.

For your "raw" words, don't you think that politicians (of all stripes) and their banker or industrial buddies would prefer growth to pick up again? Growth is a very good way for them to enrich themselves!
More (+) purchases, more (+) loans, this is what they want and what they have been trying to do artificially for decades!
They made us live beyond our means to have more!

Don't you understand that it pisses them off that it can't go on? It is however simple: if one does not buy any more, they do not sell any more and therefore they do not make any more profit!

They don't want austerity! They are forced to because there is more wheat to distribute!

And as a reminder: The only countries that have managed to get by have reduced spending, so they started with austerity.

[Christophe]

Me, I do not live above my means but on the contrary well below what my engineering diploma could / should have given me in a society "which functions properly" !!! We are millions of graduates in this case!

If there have been too social and too lax policies: then they must be reformed and not with junk reforms because there are a public dictatorship, particularly active in France!

It is not the private sector that takes initiatives and personal risks of paying: it is those who weigh on the budget!

But they are the most "protected" socially !!

So I repeat that austerity should only be applied to the public sector! And what is saved there should go to the private sector and the poorest to maintain national production and consumption!

See this video of social abuse and union manipulation (of others) in national education in France (1st or 2nd budget item in balance with the debt burden: https://www.econologie.com/fonctionnemen ... -4383.html

For the rest and their will for the "good of the people": sorry but it's not sure at all ...

If they wanted to solve the problem, in France, we would repeal the Pompidiou Giscard law and we would give back to the State the power of monetary creation (with limits to avoid hypo-inflation) but they are too busy defending the interests of their buddies international financial crooks !!

This is the extreme that can happen: outright public bankruptcies because the politicians were all rotten in the pay of the bankers! https://www.econologie.com/forums/faillites- ... 11292.html

In the report we learn that most of the old politicians are in jail! It is not for nothing: they have all been greased!

Brief repeal with retroactive effect on the interests: the debt would be blocked it would not increase any more! So the creditors would not gain any more money but they would not lose either !!


So what prevents you from doing it? Answer: the only greed of creditors !!

Why was this possibility never mentioned as a solution? We would still have a debt but it would stop growing!

In short, it depends on the "plan" they have in mind or who is behind their back!

See or review what has already been done in the past: https://www.econologie.com/forums/la-strateg ... 11301.html

ps: I am obviously not for the doctrine of shock, but we must find the balance between social and economic growth ... green of course!

reps: sorry for the fat but I have the balls there!

[bamboo]

Given your state of nervousness, I'm just going to say what I agree on :

The trade union dictatorship is indeed effective in France in the public domain.

[Christophe]

Ah well I did not expect as much. Well it’s better there, my blood pressure has dropped to 16-12!

I linked this "rant" in a short story precisely about union abuses in national education: https://www.econologie.com/crise-de-la-d ... -4384.html

Relay it!