Another outrage on the workers of Greece. Athens transport workers were forced back to work with emergency laws after daring to strike when their wages were cut by 20%. Now seamen are being threatened with up to 5 years in prison if they don't end their strike which started because they are owed SIX MONTHS wages!!! Instead of worrying about Mali perhaps we should be sending troops to Greece to liberate them from the tyrannical bankster government currently in control! www.bbc.co.uk/news/world-europe-21344377

Another outrage on the workers of Greece. Athens transport workers were forced back to work with emergency laws after daring to strike when their wages were cut by 20%. Now seamen are being threatened with up to 5 years in prison if they don't end their strike which started because they are owed SIX MONTHS wages!!! Instead of worrying about Mali perhaps we should be sending troops to Greece to liberate them from the tyrannical bankster government currently in control! www.bbc.co.uk/news/world-europe-21344377

The Greek government should just magic up a bit of money from thin air and then they could pay them.

I can't quite remember the spell, is it "piff,paff,poof", "izzy, wizzy, let's get busy" or "econo-repairum"?

How much have the bankers etc been told they will lose from their wages?

Quote ="LeighGionaire"Another outrage on the workers of Greece. Athens transport workers were forced back to work with emergency laws after daring to strike when their wages were cut by 20%. Now seamen are being threatened with up to 5 years in prison if they don't end their strike which started because they are owed SIX MONTHS wages!!! Instead of worrying about Mali perhaps we should be sending troops to Greece to liberate them from the tyrannical bankster government currently in control! www.bbc.co.uk/news/world-europe-21344377'" As I said to the less bright on the Gay Marriage thread - rights are granted by the powerful in good times and can be taken away, especially in bad times. The situation in Greece is life-threatening, so striking would not seem the way to go. Bear in mind that the UK's aggregate indebtedness exceeds Greece's and so we could have a similar situation here soon.

Quote ="LeighGionaire"Another outrage on the workers of Greece. Athens transport workers were forced back to work with emergency laws after daring to strike when their wages were cut by 20%. Now seamen are being threatened with up to 5 years in prison if they don't end their strike which started because they are owed SIX MONTHS wages!!! Instead of worrying about Mali perhaps we should be sending troops to Greece to liberate them from the tyrannical bankster government currently in control! www.bbc.co.uk/news/world-europe-21344377'" As I said to the less bright on the Gay Marriage thread - rights are granted by the powerful in good times and can be taken away, especially in bad times. The situation in Greece is life-threatening, so striking would not seem the way to go. Bear in mind that the UK's aggregate indebtedness exceeds Greece's and so we could have a similar situation here soon.

Last time I looked, Greece had a debt-to-GDP ratio of 130-odd whereas the UK had a ratio less than 90 (round about average for an EU country, ever-so-slightly less than the Eurozone bloc as a whole).

Has that changed so much that we now exceed Greece?

If you count private as well as public debt I understand that the UK's aggregate indebtedness is larger.

Anyone who compares the UK economy to the Greek economy in that way either has no idea what they're talking about or is being deliberately false. Which includes the Chancellor and a decent proportion of the cabinet.

But private debt is good (if not vital) for the economy as long as it is affordable.

UK aggregate debt is over 500% of GDP - proportionately twice as large as Greece's. (Source: Haver Analytics). So, yes, it would be false to compare us with Greece. If you build in the unfunded state obligations, we are indebted to the tune of 900% of GDP.

Are you Gordon Brown?

It is not affordable. Otherwise, interest rates would be allowed to increase to more normal levels. Policy makers are simply playing for time before the inevitable happens.

So, you are saying that the debt profile in the UK is vastly different from the debt profile in Greece, so that puts us in the same situation as Greece, yes?

Whilst accusing others of being 'not bright'.

Or maybe just you!

Have you got any evidence that UK private debt is unaffordable? The proportion of said debt can not be compared to the Greek scenario because so many people have had their wages cut, or are now out of work that much of the private debt is unaffordable, however, whilst a proportionally higher percentage of people are still in work in the UK, they can continue to meet the payments of their debts.

And what is the interest rate on that debt? Over how long? Secured on what assets?
Your comments re BoE interest rates also show how little you understand the current situation.

Maybe, but either way, you're beginning to look even more ridiculous than usual. You said something incredibly stupid on the other thread, you're now repeating it on here, and no matter how many posters point out your stupidity, you fail to see it.

I have no concrete figures but according to Max Keiser on his show the Keiser Report the U.K's combined debt liabilities (government debt, private debt and future pension payments) far outweigh Greece as a comparison of GDP. However this is a moot point compared to the fact that workers who have not been paid for six months are now being threatened with long term prison sentences if they don't carry on working regardless. This is nothing short of state enforced slave labour within the so called 'democratic' EU.