Bailing Out Greece Means More Taxes For France & Germany
Naked capitalism has a ridiculous article adopting the fancy fantasy that bailing out Greece, Portugal, Ireland does not augment taxes on Northern Europe, France, Germany, Netherlands, etc. Because it augments debt only, a stupid journalist based in Ireland claims.
According to this, paying all due respect, complete idiot, there is something as free money: just borrow it, become Greek, irish, American, whatever...
See what happens next, as you get downgraded into oblivion, with no more social services... Like in Cameron's kingdom, now complete with entire blocks burning. Do like the city of Half Moon Bay, next to Silicon Valley, and fire your police department: it's safe. Exilarating even.
The main argument therein is contradicted by facts, and basic logic. Totally.
According to decisions taken by Merkel and Sarkozy, which apparently did not reach the Ireland worthy of showing up in "naked capitalism", the French government is to lower deficit/GDP to less than 3% by 2013 (it's 5.4% now). Germany and the Netherlands are similarly committed.
To do so, the French government has announced that it will increase taxes, all over. So EU taxpayers do pay, and the author should listen to French TV; the declarations of the gov are loud and clear.
BTW, how could it be otherwise? Debt is just delayed spending.