ya greece is going to be 1 of the worst country thr pepole only wants the securities money only.
and their pepole are so stupid ther expectations are very high in terms of salary.i saw the video on national geo. there 1 lady said that iam getting 12 lac for fixing the rubber or plastic on cars staring.wht a rubbish
Italy, Spain and Portugal will all see a sharp fall in GDP this year, thhe euro-zone economy as a whole may be shrinking, after GDP fell in the fourth quarter. The fear of this have spilled over the bond markets....
Europe is trying to come of woods, Ireland has regained competitiveness. Spain’s new government won a big mandate last November that may bring about change, the work has already started. It has announced reforms of its rigid labour laws which will help in reducing high unemployment. Italy’s new prime minister, Mario Monti, has already passed a pension reform and is soon to propose labour reforms of his own. All these changes are helping but when europe will totally come out of the crisis remains to be seen
Portugal is also at risk. It has a very high debt, not as high as that as Greece. It has a very large fiscal deficit and most importantly Portugal has the slowest rate of growth in the Euro zone for many years, so the likelihood that it can grow itself out of debt is very low
Europe is America’s largest trade and investment partner. Anything turmoil in europe will directly affect the sentiments in US which itself is recovering from crisis. The overall image can be very damaging for US financial system.