Campaign urging German goods boycott

[Melech 9,900]

They are just barking but no bites, I believe

It is impossible to stay away from German goods.

From MP3 format, binder, paper size, Christmas tree, Nivea, Aspirin, Fanta, Nerci chocolate, Adidas, Puma, to Escada and Hugo Boss are German, owned and invented.

And not to forget all the cars

 

[Didymus 34,380]

Why only German products? Germany isn't the harshest country on Greece. What about Estonia, Lithuania, Latvia, Finland, the Netherlands, Slovakia, Slovenia, Austria?  It seems like Germany is an easy target because of the second worldwar, because they're the biggest country and the only country that has grown continuously during the crisis.

Because their debt was cancelled.

Germany's money is not the only money that will be risk if the debt is forgiven and honestly, don't agree with it. It's not fair for other countries to lose money because of Greece's mistakes. Portugal, Ireland and Spain have been working hard to pay their debt, and Greece should do the same instead of trying to get some sort of bail on these payments.

Maybe my view is wrong But on the news, some Greek people have been interviewed and they all want the same, Europe to forgive their debt. Someone inform me if my views are wrong  

Your view isn't wrong, but the actual agreement with Greece is widely seen, and not just by random people but by actual economists and top politicans, as a disaster that just continues the line Greece was already walking on. It's their fear (and for some a certainty) that within a few years, Greece will have to come knocking again because there is absolutely no effort made to ensure Greece's economic growth which is the only thing that will lead them out of their crisis.

[barcodemonster 3,525]

Wow Europe seems so exhilarating. It's like the United States ...but countries!! It's like if Idaho got mad at South Dakota ya know?? 

[Dolev 867]

Greece. 

[Luc 4,776]

Because their debt was cancelled.

Your view isn't wrong, but the actual agreement with Greece is widely seen, and not just by random people but by actual economists and top politicans, as a disaster that just continues the line Greece was already walking on. It's their fear (and for some a certainty) that within a few years, Greece will have to come knocking again because there is absolutely no effort made to ensure Greece's economic growth which is the only thing that will lead them out of their crisis.

Not exactly. The debt was cancelled a long long time ago and it's not the direct reason for why Germany is reaching full employment during a crisis. It's because of Schröder's (iirc this was the name) reforms in the early 2000's which included labour market reforms. That's the primary reason Germany is doing so well: they already pushed the reforms all other countries are pushing for today, but then 15 years earlier.

Economics have a more theoretical, less practical view on the economy. Economics have been rejoicing because finally 'evidence' has been found that austerity during a crisis doesn't work. Happy them. They also think the Greek debt is unsustainable, because the debt to GDP is so high. You have to take it into context however. Greece actually has a lower debt than other South European countries, because the cost of the debt is way lower. Greece pays an incredibly low interest rate to the point that their overall interest payments to gdp is lower than Portugal's, or Italy's. Next to that the debt only needs to be repaid over the course of 50 years which is really long. If you look at it in this context, you'll see Greece's debt hurts their economy less than Portugal's, Spain's, Italy's, Cyprus' or Ireland's. 

The only three ways to reduce debt are austerity, economic growth and debt reduction. I believe all three should happen. Austerity causes short-term economic pain and breaks the main promise of naive pre-election Syriza, and should be avoided. Greeces deficit is quite okay and with economic growth from a liberalized market, privatisations and reforms like pushing labour market participation by women, fighting tax evasion and corruption and making the statistics reputable. Austerity could happen in the form of less money to the top public sector incomes and a higher wealth tax, but Syriza wants neither (fake socialists, tbh).

 

Austerity can work though. Look at Latvia. They had austerity almost as harsh as Greece's (but then smarter), saw their economy contract by a quarter too and then became the fastest-growing economy with no devaluation.

And again, Varoufakis wanted debt reduction as a pre-condition for a package of measures. EU leaders want debt reduction as a reward in the future for good work, and I agree with the EU leaders. You can use the debt to push Greece in the right direction with their economy.

[Didymus 34,380]

Economics have a more theoretical, less practical view on the economy.

I don't get that I mean, if they don't get economy, who does?

I'm no an economist, I don't know **** about economy, but all I heard was top economists and politicians say was that not a single European measure stimulated economic growth. I didn't read it, but I mean, if I can't trust these people, then who can I trust? Who do you?

[Yves 1,891]

Not exactly. The debt was cancelled a long long time ago and it's not the direct reason for why Germany is reaching full employment during a crisis. It's because of Schröder's (iirc this was the name) reforms in the early 2000's which included labour market reforms. That's the primary reason Germany is doing so well: they already pushed the reforms all other countries are pushing for today, but then 15 years earlier.

Economics have a more theoretical, less practical view on the economy. Economics have been rejoicing because finally 'evidence' has been found that austerity during a crisis doesn't work. Happy them. They also think the Greek debt is unsustainable, because the debt to GDP is so high. You have to take it into context however. Greece actually has a lower debt than other South European countries, because the cost of the debt is way lower. Greece pays an incredibly low interest rate to the point that their overall interest payments to gdp is lower than Portugal's, or Italy's. Next to that the debt only needs to be repaid over the course of 50 years which is really long. If you look at it in this context, you'll see Greece's debt hurts their economy less than Portugal's, Spain's, Italy's, Cyprus' or Ireland's. 

The only three ways to reduce debt are austerity, economic growth and debt reduction. I believe all three should happen. Austerity causes short-term economic pain and breaks the main promise of naive pre-election Syriza, and should be avoided. Greeces deficit is quite okay and with economic growth from a liberalized market, privatisations and reforms like pushing labour market participation by women, fighting tax evasion and corruption and making the statistics reputable. Austerity could happen in the form of less money to the top public sector incomes and a higher wealth tax, but Syriza wants neither (fake socialists, tbh).

 

Austerity can work though. Look at Latvia. They had austerity almost as harsh as Greece's (but then smarter), saw their economy contract by a quarter too and then became the fastest-growing economy with no devaluation.

And again, Varoufakis wanted debt reduction as a pre-condition for a package of measures. EU leaders want debt reduction as a reward in the future for good work, and I agree with the EU leaders. You can use the debt to push Greece in the right direction with their economy.

The problem is that Greeks disapprove of austerity.  This is actually the EU's fault. With the opening of the Central Bank of Europe (I can't remember if that's the name), it allowed countries to borrow higher money than before. Greece overdid their borrowing and look at the mess now. 

[Luc 4,776]

I don't get that I mean, if they don't get economy, who does?

I'm no an economist, I don't know **** about economy, but all I heard was top economists and politicians say was that not a single European measure stimulated economic growth. I didn't read it, but I mean, if I can't trust these people, then who can I trust? Who do you?

I trust some politicians and read multiple newssources... it's just a general observation. I guess there's a reason why the physician (Merkel) and the agricultural expert (Dijsselbloem) hated the economist (Varoufakis) so much is that the economist lectured the theory that austerity doesn't work and how the Greek debt is unsustainable, which they didn't want to hear. They simply wanted concrete and technical reforms.

I don't believe these measures stimulate growth either but economy is mostly a psychology and when people feel like it's going good again the economy will almost automatically grow.. and some measures are actually quite good (like making the institute for statistics independent). I personally think the Greek government will only implement the raising of the retirement age and the higher VAT though