Iceland, then Greece & France.. Who's next?
Bolivia did something similar when the people revolted against the IMF "takeover" of their natural gas. http://en.wikipedia.org/wiki/Bolivian_gas_conflict
These are people revolting against the inept stewardship of natural resources/governmental policies.
Politicians/presidents/prime ministers are HIRED by the people to do their bidding and to preserve the national resources/economy for the BENEFIT of the people they serve.
For far too long, these "elected" officials have done little more than bargain away things they should never have had the right to , and to the detriment of their own people.
The financial messes we have now are little more than a few at the top, borrowing wildly, and mismanaging their jobs.
There always comes a reckoning when the ordinary people have had enough.
Someone can open an account in your name and can make nominal payments without your knowledge, but at some point they fall behind, and the creditors come after YOU. This is happening now, all over the place.
The money is "owed", but it was "loaned" irresponsibly and to people who squandered it, so the people years later who now find themselves on the hook for repayment are pissed off....and who can blame them.
Iceland said F-you, and is still there, and I suspect that France & Greece (and soon Spain, Italy and a few more) will go that same route.
The reason the Marshall Plan worked was because debt was washed away, and the loaners took the losses, and indebted countries could start over. It all worked pretty well until a crop of conservative swindlers weaseled their way into office and controlled things too long..
As for the caterwauling about how the higher taxes proposed will drive rich people and business away...maybe it needs to go..but then where will it go? As more and more citizens take back their governments and install real taxation...taxation on the people with money, sooner or later these rich folks will have nowhere to go.
The rich like living in civilized places with services they can count on, so as they depart France, Greece....maybe the US, where DO they all go?
It may be time to call their bluff and just hand them their luggage. Maybe they are more trouble than they are worth..
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