[ExI] cyprus banks

[spike]

>... On Behalf Of Andrew Mckee
Subject: Re: [ExI] cyprus banks

On Mon, 18 Mar 2013 17:29:31 +1200, spike <spike at rainier66.com> wrote:
...
>
>>... Europeans, do feel free to comment, or not:
>
>>... http://www.cnbc.com/id/100560852
>
...

>...I'm beginning to think that those behind these so called 'austerity
measures' are less concerned with sound economics and more interested in
ending the civilized world as we know it. :-)...
_______________________________________________

Andrew I have a question from your comment.  The Greeks are trying to
instill austerity measures, which are highly unpopular.  One school of
thought holds that it will make the Greek economy worse.  What is the
alternative?

There are some remarkable parallels between the USA and Greece.  The
sequestration could be interpreted as US-style austerity, a very mild
version of it.  The US federal government is borrowing 40 cents on every
dollar it spends.  Clearly this is not sustainable, so what is the endgame?
Commentary by Europeans welcome please: if we extrapolate current trends,
where does this lead?  What happens?  The government insists it cannot cut
anything, and they already raised taxes.  So what happens then?

spike