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Reply #4: The first thing to remember we have a GLOBALIZED System. [View All]

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OHdem10 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-05-11 11:39 AM
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4. The first thing to remember we have a GLOBALIZED System.
In a sense all Western Countries including USA
are JOINED AT THE HIP. A lot of Americans do
no understand this accoring to a Business
Program I saw the other night.

The Euro-Zone are interdependent. Right now
Germany is financially in the best position
to help others(Greece). Germany is between
a rock and a hard place. German Citizens are
loudly protesting their tax payer money be used
to bail out Greece. The German Leaders for the
most part believe they must help so they are
demanding Austerity be put in place in Greece.
Greek Citizen are defiantly opposing the severe
cuts which are required by Austerity. It gets
touchy because many European Countries hold Greek
Debt. What happens to France (holding Greek Debt)
if Greece just defaults and pulls out of European
Union? Does this cause a Domino effect with other
countries, Italy Spain and Portugal becgin to falter
and get to possiblity of defaulting? Now with all
this USA BANKS have ties to many Banks in these countries.
More losses for USA.

My understanding is shallow but I think we can see
how we are all on the precipice of another recession.

I have heard people say Greece would be better off
to default. Maybe good for Greece but what about
other countries with ties to the banking syatem there??
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