Tuesday, March 2, 2010
George Papandreou on Greece's woes (3/8)
As one of the PIIGS countries (Portugal, Italy, Ireland, Greece, Spain), Greece is in the worst shape. All of these countries are in a financial freefall. Should we bail these countries out?? How should we fix this?
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I don't believe that we should bail out these countries, when we are barely able to hold our own in the economy. Doubtlessly, the world economy is connected and the failure of Greece will affect EU members, and thus the USA, but I think it is unwise to bail out other countries when America is in a sad economic state itself. The USA should adopt an "every man for himself" attitude in this situation.
ReplyDeleteI don't think we can afford to bail these countries out, or at least not on our own. I definitely think the U.S. should play a part in helping out the PIIGS countries, before the entire world economy falls through the floor. And if the man means what he says, he's asking for a loan, one that will be paid back with interest. We'll get the money, and more, back, and save some European countries.
ReplyDeleteBut again, the U.S. isn't exactly in the best of shape to just lend money out to other countries. This needs to be a group effort, meaning other countries in Europe and Asia should pitch in and lend help bail out the countries.
But it's so important to act before the PIIGS countries screw us all because of their bad economic situation.
If we want to maintain a "country-help-country" world, then sure. But yeah, I certainly agree with Erika and Christina: we haven't the money to bail these country's out. Since these countries, as far as I can defer, are of little to no economic benefit to us, we should just leave ourselves completely out of the situation. We should focus on our trade with Britain, Japan, and China. Additionally, bailing these countries out would be like deliberatelt attaching a parasite to your own body: they will suck the money out of us. I hope the American government can resist any humanitarian impulses and just abstain from helping them all together.
ReplyDeleteI believe that the United States cannot bail out the PIIGS countries right now. I think if someone does not it will affect all other countries and severely damage the world’s economy. Once the United States helps themselves and brings back our economy then we can slowly pitch in to help the PIIGS countries. We can fix this by convincing other countries from Europe to pitch in and lend some money.
ReplyDeleteIts hard to say whether or not we should bail them out, because if we don't...what will happen to our economy? But right now, we do not have the money/time to bail out these countries
ReplyDeleteI agree with Erika. We cannot afford to bail these countries out at this point. We have to worry about ourselves; however, the world economy is linked, and it is important that everyone is doing well or trade will not work or benefit us in any way. If some countries are in poor positions, then we feel the effects. I'm not saying that we shouldn't...I'm saying that I don't think we can right now without increasing our national debt exponentially. Instead, we can ask other countries to help us bail out these PIIGS countries, so the burden is not completely on our shoulders.
ReplyDeleteOur financial status would tell us not to bail out the PIIGS. Furthermore, how would it make America look, bailing out other countries as we struggle to fix ours? However, being that the world economy is all interconnected, the effects of not bailing them out may only make it harder to stable our own...
ReplyDeleteNO MORE BAILOUTS. Just a thought Mr. Obama..
ReplyDeleteIf we could we probably would bail out the PIIGS countries but in state that we are in we need to work on getting ourselves out of our financial crisis. Once the US can bail themselves out of the trillion-dollar debt then we can start helping our brother and sister countries out.
ReplyDelete