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General Discussion Area / Re: Bailing out Greece
« on: 10 February 2010, 12:17:00 »
It isn't just Greece. The rest of the delightfully named PIGS (Portugal, Italy, Spain and Greece) are in real trouble too. Weak economies compared with their North European counterparts.
From an EU economic perspective "supporting" the PIGS makes sense. After all it is only like the rich South East of the UK supporting say the poorer North East.
On a personal note I believe it is quite possible that one or more of the PIGS will have to leave the euro. I selfishly hope that it includes Spain. Immediately it would make Spain a cheap holiday destination. The Spanish econbomy seems to be based on two areas. Tourism (down 10% last year on 2008) and building. It has more empty properties than the rest of the EU put together.
From an EU economic perspective "supporting" the PIGS makes sense. After all it is only like the rich South East of the UK supporting say the poorer North East.
On a personal note I believe it is quite possible that one or more of the PIGS will have to leave the euro. I selfishly hope that it includes Spain. Immediately it would make Spain a cheap holiday destination. The Spanish econbomy seems to be based on two areas. Tourism (down 10% last year on 2008) and building. It has more empty properties than the rest of the EU put together.