God, it's like the middle ages and we're returning to the fuedal system And we know where that ended up! And this sort of thing will spread through the world, time to chop off a few heads! Very sad that comment of your about an entire nation being depressed. I guess you could cope if you could see an end in sight and some hope but it just seems to get worse. The Argentina default seems to have been the best thing for them?
When the EU first began talking in earnest of a single currency, in '97, I wrote an article for our local paper stating that with so many different economical societies it wouldn't last 20yrs. Looks like I was right At the time, I was laughed out of court so to speak. What did I know, I wasn't an economist. No, I wasn't, I was an ecologist, looking at the bigger picture. Coupled with Maggie & Ronny's breaking down of Banking & Business regulations in '83, the Euro crisis has added to the Global economic crisis. And still governments look for shot-term answers, and they are affecting the Common Man negatively. We need to have a long-term, more softer approach. I'm now thinking totally out of the box and have saved the above, and will write a proper piece, which I'll put up when finished. Sorry for breaking it off, but I want to get this right.
I pray & hope you & your family keep your heads above water
Stammy how does it work this system of pensions based on the 'monthly wage'? On the average of the wage perceived during the whole working life? On the wage perceived in the last year or 'tot' years? Italy used to have this kind of pension system based on the wage perceived by the worker in the last years of work. It lead to a total aberration because exploiting the State people's wage was exaggeratedly enhanced in the last years of work to assure to people the max pension possible. Now Italy has a 'contributive public pension system' based on the number of years of contribution and the entity of the contributes paid and this determines the age of pension and the amount of the pension. This lead to pensions that are almost HALF of how they used to be, but it is of course a system that encourages paying contributes The new cuts in Greece without a reform of the pension system will be a DISASTER for the employees and I can't believe how much short-sighted the government seems to be!!!!!
It used to be the 5 last years that counted but few years ago it changed to all the working years. But...it really doesn't matter as the state soon will be unable to pay any pensions All the work force between 20 and 35 years old are seriously thinking to migrate. Many have already done so, especially the ones with diplomas and high qualifications. People who could really help our economy grow, are escaping the country, seeing no hope in staying here. Young people can not afford having kids and soon all that will remain here will be granpas and granmas. Who will pay for their pensions then? It's so blindingly clear that all this is going to lead to something i don't even dare to imagine. The government is practically non existent. They only know to sign whatever is being asked from them to sign, no matter the consequences on the lives of people. The new deal that Merkozy forces them to sign till Sunday guarantees that Greeks will have to live with Bulgarian wages and Greek prices. And this is simply impossible. Economy needs time to readjust to a new balance between wages and prices. What's been happening now is a blunt rape. And our only choice is to relax and enjoy it
true. And if once there was an 'America' to migrate to (and it was hard and miserable enough) now where will people migrate? Where is a good place to live in now? It seems a global mess. The joy of globalization... Unfortunately TIME is the key for change and what is asked to Greece is to make in 2 years what other countries did in 20...