The PIGS are revolting!

Portugal, Ireland, Greece, and Spain that is.

Especially the Greeks and the Spanish.

But why should the Greeks be so much in arms? Greece has for generations been essentially a peasant economy and it was only when their government lied and cheated to gain access to the Eurozone that suddenly opportunities to raid the European Larder opened up and instead of moving towards a work ethic based way of life the whole nation rode high on the Euro Hog.

Now the bills are coming in the selfish Greeks are howling how dreadful it is that they must now pay for their profligacy by facing a dramatically reduced standard of living.

Oh dear, tut tut. How sad.

And who do they blame? The Germans for no longer being willing to be the mugs who work hard and see their earnings support the bone idle.

Similar with Spain. What is it with these people who want a life of ease paid for by the hard work of other people?

And the French. The Socialist disaster, Hollande is making a pigs ear out of a silk purse by apparently thinking that soaking the rich will solve his countries woes. It won't.

In all cases there seems to be an inability to see that when you have a ball paid for on credit the bills soon come in and when they do you'll have to adopt a standard of living commensurate with what you have left over after paying your bills out of your earnings and the very first step is to start earning as a nation more than you're spending.

It's a lesson that will very soon have to be learned by Britain once the international financiers start to reel in the mugs – and that days not that far off.

One thing is interesting and that's the common factor amongst the international financiers – and there is precedence to this - but last time it wasn't the whole of Europe that was taken to the cleaners, it was just a single country. I have a horrible feeling that then outcome will be the same.

Re: The PIGS are revolting!

Please clarify the acronym PIGS.

Re: The PIGS are revolting!

Just read back, no need to clarify.

Re: The PIGS are revolting!

To be fair the Germans have benefited greatly from the value of the Euro being held down by countries like Spain and Greece. If the Euro had only been used in countries like France, Germany and Great Britain (as recommended by the world's greatest treasurer) then its value would have been considerably higher and the advantage Germany gained for its exports would have been much less.

German went through similar structural reform after reunification though the pain was spread over longer time than Greece and Spain have got. Britain has the advantage of being able to massively devalue its currency so the pain is spread around AND the resulting higher prices can be blamed on foreigners (a ploy that always works in the UK)

Re: The PIGS are revolting!

German export success is based on one thing and one thing only. Superb quality.

Re: The PIGS are revolting!

Oh Bloody 'ell, not again!!! - the so-called German aryan master race.

Dieter, please get it into your head that Germany LOST the war, that your so-called 'Master Race' got their arses severely kicked at El Alamein, Stalingrad, Kursk, and Kasserine and the all conquering Wermacht, were pushed back and were forced to fight in the streets of Germany's capital!!!

By the way, if Germany is so bloody perfect, perhaps you will be prepared to tell us all why, a couple of years ago, all BMW minis had to be recalled due to a major 'design' fault with their brakes???

Re: The PIGS are revolting!

What rot. If that was true then explain why cheap Chinese clothing out sell more expensive but better quality products from elsewhere?

Price is important; a low Euro has helped the German products remain competitive.

Re: The PIGS are revolting!

Not all the products we think are German are actually made in Germany. Bosch for example. You need to be very careful when choosing this brand as some appliances are made in Spain, and other European countries. It has also been discovered that some of the parts are made in China.
As Bruce says cost is important and I understand that Bosch have had to do this in an endeavour to remain competitive, although I think it is a bit sneaky to not make it clear to the buyer, who still thinks he is buying German made products. You need to go to the top end of the price range for the German products and Miele, Siemens and Neff(? think there is a French connection with Neff) are the ones to buy to be sure. You cannot rely on the name Bosch anymore to ensure a product to be "Made in Germany".

Having said that my experience with German made products is that they are tough and reliable - maybe a little old fashioned and not at the leading edge of fashion, but solidly made and on the whole they still have a good reputation even if they are expensive to buy in the first place. However, maintenance and servicing can be expensive.

Re: The PIGS are revolting!

The real issue isn't the quality of German products, goods, and services, it's that there's countries who have been running up huge debts, usually from the usual suspect international banking cartel, and who now don't like the prospect of having to live to a standard that their country can afford.

Re: The PIGS are revolting!

Surely that's as much to do with human nature, as it is with economics.