Mizter T wrote:

Greece might have got on better if, well, it had managed itself a bit
better. The Irish seemed to know how to play the game a bit better
(though the initially impressive Celtic tiger got caught up inflating
itself beyond all reasonable proportions during the boom, of course).


Both Ireland and Greece fell into the same trap. Exactly the same
trap. Cheap borrowing fuelled an unsustainable boom that was founded
on ... well, nothing.

Britain also fell into the same trap, but we appear better able to
escape because our currency devalued by more than a quarter. Ireland
and Greece don't have that luxury, being stuck in the Euro.

In terms of debt, thanks to Gordon Brown, Britain is actually more
indebted than Greece.