08 Oct '11, 3am

Why Greece should not be bailed out

Why Greece should not be bailed out

For a best part of the last two years, the newly-coined “sovereign debt crisis” had been dogging financial headlines globally. And in almost every article that mentioned the three words in parentheses above, you will find the country “Greece” mentioned. The mechanics and reasons behind this debt crisis is complex, intertwined with post-World War II history, background of the formation of the European Union and politics of the member states. To sum it up the most layman way possible, let’s do some role-assignment. Imagine the European Union (EU) is a large family, made up of very different family members (sovereign states) with very different relationships. This is a very powerful family – rich in wealth and influential in affairs. Greece is the rogue child of the family. Since joining the family (back in 2000, with the creation of the Euro), this rouge child had been spend...

Full article: http://theonlinecitizen.com/2011/10/why-greece-should-not...

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tnp.sg 03 Oct '11, 2am

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channelnewsasia.com 19 Oct '11, 9am

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straitstimes.com 04 Oct '11, 12am

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