What would happen if the euro countries Greece would actually turn off the money tap? If this were really the purposes of the creditors? If the aid can be adjusted, there will almost certainly lead to a Greek default with the profound implications for creditors: The stories of past guarantees would not be repaid. Simultaneously, a Greek default would have a significant impact on the financial sector. First, the banks would be affected who lend to Greece.
Moreover, as in the financial crisis, the whole sector of the derivatives. Because of a state insolvency, again systemically important banks should be saved. The alternative to bankruptcy would be to support Greece. Nevertheless, the Greeks must finally deal with their plight at the root. The lack of competitiveness is the real problem of the Greek economy.
The reason is that wages have increased over the preceding decade in relation to productivity and to competing sites too strong. It is a pacemaker for the wage increase was the state sector. In addition, also the employment has been greatly expanded. This process needs to be reversed to become competitive again. This process is long and painful but is no alternative.
The world financial markets
As after the Lehman collapse all threatened to collapse the world financial markets. The risks for negligent conduct in the financial sector would continue unloaded never alone with the taxpayers. Because of the fundamental principles of a market economy were there are terms such as liability and responsibility.
Who must be liable for the consequences of incorrect speculation itself. Those who follow the political debate in the EU on the involvement of private creditors in the bailout of Greece, will be surprised now. Suddenly rescheduling with the involvement of the private sector is an evil, make headway against the governments of the euro area as well as the European Central Bank.
The financial sector crying out for Insurance! He defends his return from the boom. In this business model, many well-paid players in the financial markets can break market economy. This, which should be used to the so-called little people is the personal responsibility!