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posted by
martyb
on Monday July 06 2015, @08:57AM
from the getting-what-you-asked-for-may-not-be-getting-what-you-want dept.
from the getting-what-you-asked-for-may-not-be-getting-what-you-want dept.
The Greeks voted no to the European Union's terms, despite warnings from the EU that rejecting new austerity terms would set their country on a path out of the Eurozone. 62% voted "No" while 38% voted "Yes".
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(Score: 0) by Anonymous Coward on Tuesday July 07 2015, @12:27AM
It seems to have been caused by a number of things, including some behind the scenes manipulation by the banks to get public assets into private hands.
Austerity failed to help, as the rational behind it is "Spend less and pay more debt!" This leads to cuts in services and government employment levels, resulting in more people unemployed which in turn reduces the tax take and results in more people being unemployed, which in turn...
Eventually, there isn't enough money to pay back the debts, and the nation is in trouble, largely because of external interference.
You don't think that a tax evasion could really run up $300 billion worth of debt, do you?