Monday, June 20, 2011

Nightmare continues but eurozone leaders still refuse to wake up

Greece is rapidly approaching a national debt of €300 billion, the population of Greece is just 10 million meaning that every person (Men, Women and children) living in Greece is supporting a debt of €30,000.  If we consider not the entire population of 10 million but only those working in the wealth generating part of the economy ie excluding pensioners, children, those employed by the public sector, the sick and infirm; then the debt is going to be in excess of €90,000 per wealth generator.

Eurozone leaders are determined to protect the euro and European banks whilst condemning tax payers to a generation of poverty.  There is no easy solution it is going to hurt, but the longer they delay the worse it is going to be.  The nightmare is not going to go away until Europe's leaders wake up.

Best Wishes
Will

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