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Ostraco's Bar => Gossip => Topic started by: mickydripping on July 19, 2013, 07:52:24 PM

Title: Bail out of greek economy?
Post by: mickydripping on July 19, 2013, 07:52:24 PM
Can anyone explain why there is such an outcry over Greece....but Detroit going bust is a small problem?
Title: Re: Bail out of greek economy?
Post by: Mike from Sussex on July 19, 2013, 09:29:58 PM
Two reasons:

Most of Detroit's debts are to employees' unions and pension funds;

A Detroit default will not threaten the financial survival of the Eurozone.

Mike