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Friday, January 29, 2010

The Greeks had a word for it


Comments (5)

Hey, at least we're not the only country that think the answer to everything is more debt. Actually, I'd like to find the country that manages its debt.

Steve -

Go to Berne and look around.

The Swiss are having a huge debate about what to do about Health Care and all the uninsured immigrants among them. They are not members of the EU and still rely on the Swiss Franc for currency. Swiss reliance on its wall of banking secrecy is starting to show weakness as the US has demanded more transparency to uncover the money launderers and tax cheats.

"Go to Berne and look around."

You do know what it costs to live there? Actually Singapore might be a good example also.

Greece is not quite 3% of the EuroZone GDP. This is counting as we do in this country, where California is nearly 13% of GDP. One would say we should also count Spain and Portugal. Well, it is still less than 10% of the EuroZone counting those. Now, what about all of our other debt problems? New Jersey, Florida, New York, Oregon, et al? Talk about debt and I still say the Euro has less to fall than our dear dollar.

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