6/27/2011

Greece is a Problem; A Lesson for the United States

China moves to save euro


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The top link in the Drudge Report this morning: CHINA MOVES TO SAVE EURO
The Europeans are worried about Greece.
The problem in Greece is over spending. They have a history of over spending. They could get booted out of the European Union. All the protesting and civil unrest in Greece will be in vain, if that happens. The attitude of Greeks seems to be that if they protest and demonstrate; they will benefit economically. They may end up being punished for over spending. They may be forced to live within their means.
The President of the United States is getting involved in the debt ceiling negotiations. He has a history of being lacking in austerity. He could take a lesson from Greece.