Greece and Entitlements

[1ViciousGSX]

Discuss.

[jeremy1375]

I see where this is going. Obviously there is a level of spending that is unsustainable. Having said that, Greece also belongs to the eurozone which has a different monetary system than we do. To say this is an issue of entitlements and overspending is only part of the issue. The eurozone is made up of many different countries that have different fiscal policies and cycles all sharing one central bank and currency, and no central government like the U.S. has. This system has only been existence for 16 years and is bound to have growing pains such as those with Greece.

[1ViciousGSX]

Good points.

[tpunx99GSX]

Agree with Jeremy. I just watched a documentary on the greece situation because it interests me. The Interesting thing is that they are going to struggle regardless of what they do whether it be austerity or the grexit, but barely any of the citizens want to leave the euro. All of their pensions and such are still tied into it. The Documentary posed the question to every person they interviewed and asked Euro or Drachma and they all chose the euro, even though the person making the documentary thought that greece would be better off with the drachma.