Comments by "Chris RoadWarrior" (@ChrisRoadWarrior) on "Cypriot politicians rethink controversial savings plan" video.
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What EU media should constantly emphasize is about the REAL reasons of why CY, GR, SP, POR & IRE, God knows who's next "in line", got to the point of national bankruptcy and only a MASSIVE financial help called bailout would avoid the total bankruptcy to become real.
And reasons are, like it or not, uncontrollable overspending on very large social programs (healthcare, education, pensions, govt/union workers salaries, etc.) especially when economic growth can't cover the entire govt spending.
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Not the banks are bailed out, the country, Cyprus, its govt and ultimately its ppl, is getting bailedout. Same for GR, SP, IRE, POR, etc.
Why GR, SP, IRE, POR, CY have got to the point of national bankruptcy? B/C of unlimited govt overspending on very large social programs (healthcare, education, pensions, early retirement, wages for govt workers and unions, etc.) w/o a robust economic growth. If NO economic growth, or very anemic, and you keep on spending on social programs = total bankruptcy.
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