Interesting Perspective on the Greek crisis from the Philippine viewpoint

Interesting read and I guess it could be the viewpoint of lots of indebted countries. It's a case of; how come they can relieve themselves of their debts (Greece) and we can't.

Here's a relative comparison of PI at position 54 :-

https://en.wikipedia.org/wiki/List_of_countries_by_external_debt

National debt is like personal debt, if you have a lot of money coming in you can afford to be in more debt.

To make a comparison with Greece the following applies "a fool and his credit cards are soon parted."

Greeks are a proud and headstrong people. We, Filipinos are meek and timid.

That's the difference.

Still, it doesn't change the fact that their economy is down the gutter. And Greeks are not really used to that. Plus their country is not really natural resources-rich. They're an agricultural/fishing and tourism country. It will be hard for them to come up with money to pay for their debts, even if they get the remaining balance allotted to them by the EU.

We, meanwhile, are used to being stepped on by other countries. Our three invaders made sure of that (Spain, US, Japan). Also our country is very rich in natural resources. It's just a matter of tapping into those natural resources. We can pay our debts, if we can solve all this internal disputes like corruption. But of course, that is a problem that is not easily solved.

Hence, while Greek resists, we bend over.

I think the UK should invade the Philippines and sort you all out, what do you think?

Just wait a couple of years though until we have another aircraft carrier

Hey don't forget our little 2 year invasion too! We don't want to feel left out

The Greeks should never have joined the Euro, their economy was never up to it, there are only harder times to come for the people of Greece unfortunately, the price to pay of having a bad Government, the financial crash and spending beyond their means.

We have a saying in Filipino,

'Kainin lahat kung ano ang nasa iyong plato. (Eat everything that is on your plate.) It was an option, and they took it. 10 years of prosperity is/was not a bad deal. Hahahahaha...

But I agree... they shouldn't have been too greedy.

Oh yeah, but that's just a footnote compared to the three I mentioned. Brits only had Cavite and Manila, and didn't really imparted any British influence like Haggis or Fish and Chips. Hahahahhahaha....

It will be interesting to see the droves of tourists heading there for cheaper Greek holidays soon.

Lots of my Aussie and British mates are actually headed there and invited me. But I don't have the money for a holiday. Hahahahhaha...

But there's still Spain, and it seems they're next in line to say goodbye to EU...

But hold on...the Russians....

Greece finally admits €2bn gas pipeline deal with Russia
"Closer ties between Athens and Moscow is likely to worry the US, which has stepped up its involvement in Greece's debt crisis"


http://www.telegraph.co.uk/finance/...admits-2bn-gas-pipeline-deal-with-Russia.html

There is a dilemma going on in Croatia right now, as in should they develop oil and gas fields in the Adriatic or should they try and ensure that the highly attractive Dalmation coastal resorts are protected environmentally.

I dont know if the Greeks are going through the same dilemma.

China and Russia to the rescue.
Oops!
I wonder what deal they will offer Spain?