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scipio337
Guest
Why did Greece have to take the âLOANSâ from the IMF, in the first place?No bother.
Curious that you would pick Greece as your example of the europeans. Not Germany, England, France, or others. Perhaps Greece is not a very good example. Remember, they have existed as a country in their present form since 1974. Before that, turmoil, and oppression was their heritage. Not a very good start for the 21st century.
But, greece it is. As I look at your chart, and I compare it with what I know of the country. I see tremendous spikes along about the time the IMF, and Eurozone gave very large short, and medium range LOANS to Greece. While they have struggled to fit into the EUs model. They had made some headway, before the 2008 recession. Now, they are faced with either selling of their public domains, to private European interests. or, loosing even more. Again, not a very good start fot the 21st century.
The other word for austerity, is privitazation.
Because the public sector is 40% of the countryâs GDP.
theodora.com/wfbcurrent/greece/greece_economy.html
Privatization isnât a four-letter word, especially in this case!