Asian markets, euro rally | Bangkok Post: breakingnews

Asian markets, euro rally

Published: 18 Jun 2012 at 13.57
Online news:

Asian markets surged Monday and the euro rose after Greek pro-austerity parties won enough votes to form a government, but optimism it will stay in the eurozone was tempered with warnings that the future remains uncertain.

The news was also welcomed by governments in Japan and China -- two of Europe's biggest debtors -- with them calling for leaders in Greece to act quickly to form a cabinet. Tokyo stocks jumped 1.89 percent, or 151.70 points, to 8,721.02,...

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charleskirk
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Discussion 1 : 18 Jun 2012 at 22.231
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Two words - Social Welfare.
All European countries have promised and promised then not delivered because the cost is out of control.
When you take everything from the workers to support the non-workers eventually the workers give up and the non-workers demand more satisfaction.
It is good to take care of those unable to care for themselves but when people are allowed to leach off the tax payers that are fully capable of working but choose not to you will have problems beyond control.
The people have been pampered too long by government handouts and the workers have paid the cost until civil unrest will result if any major changes are proposed. You can't cut handouts without riots from those living on them and you can't raise taxes on overtaxed workers without the same result.
There will eventually be an upheaval in Greece and other countries suffering because of unsustainable government spending and those who continue to invest in these economies will suffer the loss when the se economies collapse.
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