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Comment: Re:Slow torture (Score 0) 317

by manu0601 (#49766943) Attached to: Greece Is Running Out of Money, Cannot Make June IMF Repayment

Greece has a military?

Here is a table of per-country military spending, as shared of GDP.

Even after EU-mandated austerity plans, Greece spends more than Turkey, but also more than France, United Kingdom, or China. I guess EU "partners" considered they were the best country to keep the Germany submarine industry alive.

Comment: Slow torture (Score 1) 317

by manu0601 (#49766277) Attached to: Greece Is Running Out of Money, Cannot Make June IMF Repayment

The term slow torture is interesting. Eurozone "partners" indeed pressure Greece government to act against its own national interests.

The primary tool so far has been BCE supply of money to Greece's banks. While this mechanism has nothing to do with sovereign debt, it has been used as blackmail: "act as we ask, otherwise your banking system will collapse because of liquidity shortage".

The reforms they were not asked to perform are interesting. Greece has been asked to reduce salaries and pensions, and even to sell some territory. But when did EU "partners" did push for a tax reform so that the wealthier pay their share? When did EU "partners" asked for military budget reduction? When you have trouble paying debts, it sounds strange to let wealthy people's money leaking into fiscal paradises, and to buy submarines from Germany.

Comment: Re:Comparison (Score 1) 1080

by manu0601 (#49755725) Attached to: Los Angeles Raises Minimum Wage To $15 an Hour

So a race to the bottom is the only solution?

It is the only alternative according to the stupid people that govern EU countries. But it is not a solution to improve anything. Even if we just blindly look at economic indicators like GDP, without any consideration for human beings, their politics are plain failures.

Comment: Re:Comparison (Score 1) 1080

by manu0601 (#49740839) Attached to: Los Angeles Raises Minimum Wage To $15 an Hour

debts so bad the EU is rejecting their budgets and forcing them to reduce their spending

You have to tell the whole story

The robots from EU commission are allowed to have their word on France's budget because french president Francois Hollande signed a stupid treaty that binds state deficit below 0.5% of GDP.

This means at the same time France is borrowing money at a 0% rate, which is a bargain, and gets bad comments from EU commission because this is forbidden deficit.

Comment: Comparison (Score 1) 1080

by manu0601 (#49731247) Attached to: Los Angeles Raises Minimum Wage To $15 an Hour

If someone needs some comparison, France's national minimal hourly wage is 9,71 euros, that is 10.7 USD.

This is much lower, but to make a fair comparison, one would have to take expenses into account. The presence of socialized services lower expenses, especially for people at minimum wage that do not pay taxes on their income.

The solution of this problem is trivial and is left as an exercise for the reader.

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