Quote:
Originally Posted by mgray
Sovereign Debt Spiral
By MICHAEL GRAY
The Greek debt tragedy currently unfolding may be the canary in the coalmine to the ultimate unraveling of the European Union.
The weapon of mass destruction is public-private partnerships. The special entities where private industry takes loans out for government projects and the sovereign entity become guarantors of the loan. As the European countries struggle with their budgets the PIIGS (Portugal, Italy, Ireland, Greece and Spain) are seeing an explosion in monetary exposure to these public private guarantee of notes.
http://mgray12.wordpress.com/2010/03...n-debt-spiral/ |
yes indeed, these are issues of maximum danger for the nations. The Poli-ticks are justifying that there are not enough money in the treasury for this or that infrastructure issue and they are asking for public-private partnership, of course these are their friends that are pushing some kickbacks to the lobbyist politicians. The contracts are made in such of way that the private party could not be make responsible of nothing, then the public part is guaranteeing with funds from citizen taxes, a loan that mostly will never be reimbursed by the private part, nor that infrastructure ever will built by that private party. If somehow this is been built, usually the quality is much lower than what should have been built. This racketeering is always lining the pockets of the politician mafia and their friends on the expenses of the sheeple taxpayer. The sad truth that is!