And Cyprus too

[CARLHAYDEN]

While Portugal, Italy, Greece and Spain have gotten the most attention for their irresponsibility, we should not forget other European countries like Iceland, Ireland or Cyprus.  Here’s some info from the New York Times:

Cyprus, Under Mounting Pressure, Explores Bailout

By DAVID JOLLY and STEPHEN CASTLE

Published: June 12, 2012

PARIS — Encouraged by the rescue of Spain’s banking sector, Cyprus has begun preparing euro zone countries and its own public for the likelihood of a bailout application before it takes over the presidency of the European Union at the start of July, European officials and bankers said Tuesday

http://www.nytimes.com/2012/06/13/business/global/cyprus-explores-a-bailout.html

[CARLHAYDEN]

The "irresponsibility" was equally shared by all. I look forward to an article which blames the risk management of Franco-German banks equally as it blames "lazy Greeks" (yeah, that's going to happen).

Please, get lost.

You do have a point that the banks should never have loaned the money to the Greeks, or the others.

You seem to misunderstand the thrust of the point that the frequently cited PIGS are not the only European countries that have severe economic problems.

Further, I never referred to the Greeks as "lazy," -- that's something you made up.

[CARLHAYDEN]

Patrick,

First, coverage by the American media of economic matters has generally been abysmal.

Second, the thrust of my original post was that the problems cited were more extensive than generally acknowledged.

Third, as I pointed out, the lenders were themselves at fault for making bad loans.

So, in conclusion, lets examine the situation rather than engage in hyperbole and inflammatory rhetoric.