- 02 Jul 2011 02:33
#13746114
Simple: Japan controls its own currency, whereas Greece is subject to the Euro. Greece is therefore more comparable to a US state than a sovereign country. If the state of Texas had the kind of public debts Greece has, it'd be in trouble, too. Unlike the EU, however, the US government has enough consolidated central power to make sure it doesn't suffer the same fate.
Bosnjak wrote:Why has Greece such troubles and Japan not?
Simple: Japan controls its own currency, whereas Greece is subject to the Euro. Greece is therefore more comparable to a US state than a sovereign country. If the state of Texas had the kind of public debts Greece has, it'd be in trouble, too. Unlike the EU, however, the US government has enough consolidated central power to make sure it doesn't suffer the same fate.
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