Redpill me on PIGS (Portugal, Italy, Greece, Spain) what caused

*Ireland

isn't it PIIGS? I remember that Ireland counts too.

>>72731501
there is no crisis, the restaurants are always full

Ireland and Spain are ASPIRE now. Fuck off we are unstoppable

>>72731501
>what caused the whole economic crisis

In Spain Germany and the socialism, the rest idk

>>72731932
explain pls

>Greece
their debt met 200% of their worth.

it's supposed to be okay as long the investors keep coming and growth stable.

their case : investors freak out, and so does the growth.

>fyi US debt ratio 104%

>>72731501

More funny comments than those pictures
No one can

>>72731501
We wasted our money in women and drinks

They have shit for productivity but want to enjoy German-tier wages, retirement payments and welfare programs. The only way this can work is by taking up more and more debt.

And turns out, this only works for a while. Now these countries are getting politically unstable as well because the people are furious they can't retire at 45 with 2500€ a month anymore.

>>72731501
Relatively technologically and socially advanced societies combined with economic stagnation and both sides of local politics believing in their own ways that they could spend/tax-break their way to prosperity. They got away with it until it was too late because a shared currency and central banking system meant the market didn't tell them to get their shit together.

>>72733482
>wasted
spent*

Also, if it were true, how would that be any wrong? We produce our own wine and women, so we'd be stimulating our own economy anyway.

>>72734735

i think he's referencing this
https://www.youtube.com/watch?v=eYroJlcLFQU

>>72731501
Low Euro value facilitates the exportation of the whole Eurozone, so, since the largest countries have exportation/trade-based economies, they set up production quotas to further-away-from-the-centre countries so they were essentially paying famers/fishers/industry to NOT produce, so that they could control their prices.

All the while funnelling money our politician's way so that they could pocket some and waste the rest on vanity projects without ever telling the people the money was going to stop coming, so they got in charge.

All the while distributing this bullshit idea that the southerners are lazy as you can see here: >>72733546 so that they can't be faulted for the whole boat going down. Which doesn't even map because Portugal has 25% emigration rates, which means we do want to work, but we don't have how here, because some german cunts decided to back some corrupt asshole who's now in jail while we pay for this bullshit with restricted access to our resources and control to our economy.

So fuck yes, if Germany is selling our waters to the Chinese, and our country to the fucking socialists, we should get a large percentage of payment in return, because we're part of this mythical German efficient workforce by way of emmigration.

We proportionately export a shittone of engineers to benefit German's economy as well, so stop fucking calling us lazy because you saw a picture of a Mexican sleeping by a tree on the Simpsons.

>>72735710
I know.

>>72735795
There's a reason why the largest startup in the UK was founded by a Portuguese and has more than half its offices in Portugal, whilst paying UK taxes, and it's not because we're fucking lazy.

>>72731501
Eurozone

Spen is a powerhouse you disgusting Paki
>>72735803

>>72731501
Germany and Jews

>>72736508
Both are the same.

>>72731501
>ITT: south europeans crying how their shitty countries are some else's fault

Take some responsibility of your own acts like Lutherans.

>>72731976
Spain had a series of semi-public companies that Franco did when Germany ordered to dismantle with the threat of expelling us from the European Union increased unemployment by 10% and With respect to socialism, 72% of what you earn is state property. Do you really believe that someone wants to pay taxes? There is a major black market in Spain.

In the case of greece, they were taken in the union out of ideological reasons even though they did not met the economic requierements to join.
Now that wouldnt have been a problem if they would not have elected a socialist who wanted to rise living standarts faster then possible via debts I think.

>>72736823
With what official reason where you ordered to destroy them?

>>72737017
Muh protectionism is bad

That was the reason. Not even joking.

(((What))) indeed

>>72735847

Yup, taxes up the wazoo around here. Every single passing day, I realize how impossible it is to create a brand new business around here due to the fucking suffocating taxes.

This shit creates a catch-22 where people try to find ways to not pay these taxes, which in turn raises the taxes due to the lower money coming in.

Why the fuck I'm still in this country, shit's full of smartasses making money from other people.

>>72736805
t. my country has only been rich for 50 years thus it's superior

>>72735795
Blaming others is soooo southern european thing

Muh victims

>>72731562
The I in PIGS is Ireland, not Italy. PIIGS is the one that includes Italy

>>72733546
Lmfao all our debt is state held and we don't benefit from any single german state. We still are the 3rd EU economy unlike some other irrelevant fallen empires

>>72739499
t. tax haven

When everything is going alright, then it must be because I'm working hard and the others are lazy, amirite?