A question occurs regarding the Greek debt; what did their government spend all the money on? All this money that they now have to cut from their public spending because their economy can’t generate enough revenue to pay it back? All the cuts that the rioters were burning buildings about, that now won’t get fixed because that would entail more public spending, which they don’t have the money for? Where are the grand projects, the bridges, roads, and infrastructure such money should have financed?
Or did they just piss it all up the wall in corruption, gold plated pensions and sinecures?
I’ve got a good idea about how the UK deficit was created (Massive welfare state, wars we couldn’t afford, bloated EU payments and a massive public sector) but not the Greek. Anyone got a linky type thing to some facts and figures please?