Europe downgraded

[rexmerdinus]

http://www.moodys.com/research/Moodys-a ... -PR_237716

I find it very interesting that this happened just after the Greek parliament ratified a deal that would secure them more bailout funds. I don't understand enough about the finer points of what is going on, but this smells like something out of a thriller novel--where one cabal is trying to out-maneuver another (neither of which has the best interests of the people in mind) and drive the world over the edge of the cliff into utter chaos. It would be so interesting to be a fly on the wall in some of those meetings! Interesting times!

[Tourney64]

Everyone bailing out Greece makes everyone else weaker.

[hejira11]

As big a trainwreck as Greece is, I am watching Illinois and secondly California, I think they are in about as bad a shape as Greece- Sad sad days ahead...

[Tourney64]

They are worse than Greece. California is the 7th largest economy in the world.

[alpacafarmer]

The US is hoping the rest of the world thinks we are to big to fail and let us just keep borrowing our selves into oblivion.

[rexmerdinus]

Yeah, that sounds like a good strategy!

[Z00]

And the EU finance ministers cancelled their meeting because the austerity package passed by Greece didn't go far enough.

Whatever Greece does is going to hurt. They should follow the Iceland model. Tell the EU to take a hike and rebuild now. Otherwise the pain will be worse later.

[sparechange]

As this show plays out, it is coming to a theatre nearby for all of us.

[PADFH]

More austerity to come. Beatings to continue until morale inproves!

[Mossy]

Whatever Greece does is going to hurt. They should follow the Iceland model. Tell the EU to take a hike and rebuild now. Otherwise the pain will be worse later.

They cannot. The people of Iceland are basically honest, thrifty, and workers. (Yes, they have lazy dead beats, the majority are not lazy dead beats.)

The Greeks ... Have a problem. Dishonesty is built into their culture now.

[SilverEye]

The brutal reality is that the Euro will be better off without Greece. Is it a strong company that keeps a money-losing factory around, and continues to pour money into it when all it does, and plans to do for the foreseeable future, is take away from the bottom line? How long do you let your deadbeat friend sleep on your couch and raid your fridge before you say Dude, you gotta get a job or get out.

It's not personal. Greece, I'm told you are a beautiful country peopled with wonderful citizens. But you need to go stand on your own now. Europe needs to take care of its own house.

[fb101]

The Greeks ... Have a problem. Dishonesty is built into their culture now.

And that differs from us because....... because..........

Ooh! gotta go, the phone is ringing!