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Comment: Re:Great Recession part II? (Score 1) 599

Pensions are just money lent by the workers to be given back later.

That's not how government pensions work.

If you add it all up, you'll find that the taxes you pay are not enough to cover the pension + healthcare now + healthcare after retirement. That's why Portugal has a problem.

Comment: Re:It could endanger TTIP? (Score 1) 111

by phantomfive (#49769387) Attached to: EU Drops Plans For Safer Pesticides After Pressure From US
Blaming Americans is just an excuse; the EU is bigger than America, they don't need to be pushed around.

In this case, it was European companies that were pushing. But it's easier politically to blame America. Just like US presidents always blame their predecessors for anything bad that happens.

Comment: Re:Great Recession part II? (Score 1) 599

The fair with European leaders is that if Greece needs to do something like leaving the Euro or something else drastic this could pave the way for other countries like Spain, Italy and Ireland. Supposedly this could harm the Euro.

Wrong. That was the worry of contagion in 2011. That is no longer a worry. You have not been keeping up.

Comment: Re:Great Recession part II? (Score 1) 599

If Greece goes Italy will be viewed next (bad side).

Maybe. Italy knows how to play EU politics much better than Greece does. Furthermore their situation is much better than Greece.

But that line could change.

The point is that the ECB will signal to investors before it changes, so they have time to get out. If that changes, and Italy defaults suddenly, then yes, that will cause panic.

Wernher von Braun settled for a V-2 when he coulda had a V-8.