Quote Originally Posted by rory_20_uk View Post
It was the Greek government that lied to them and fixed the books. The EU didn't exactly ask too many questions. Unless the average Greek is childish enough to imagine others will write them blank cheques for years to come they have only themselves to blame.
You are partly correct; yes the Greeks and Goldman Sachs were 'cooking the books'; or commiting fraud to call it by it's true name. The EU was party to the fraud. But then Germany had a bit of a dip economicaly so the ECB re-inflated the system (or "added liquidity" lol) with cheap loans, which of course all the southern bloc lapped up. Germany got out of it's mini - dip and payed for eastern Germany cheap - and then retrenched. The others however were off on cheap credit and all looking totaly as promised land-ish. Then credit dried up due to the US 'sub- prime' market (which again basicly means selling money fraudulently) and suddenly it all caved in... no more cheap cash.

If you think this a coincidence though you are mistaken. ALL the private institutions/banks were fooled. There was to be NO bail outs in both Maastrict and Lisbon this possibility is ruled out; never going to happen... except it has and we are waiting for the 'troika' to take over Spain when they have to ask for a bail out. But the answer is more of the same...?