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Thread: 14 Countries on the Verge of Bankruptcy

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    Default 14 Countries on the Verge of Bankruptcy


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    Not surprised about Southern European countries in the list. Greece business is by and large low-tech/low-profit margin businesses which have few export opportunities. The problem of exports is driven by the Euro-based pricing in Greece which has made export trade difficult. Who wants to buy overpriced, low-tech goods from Greece when similar goods are available at lower cost from other (non-Eurozone) countries? This is obvious to anyone who has watched Italy’s plight, since they joined the Eurozone. Greece needs to default on debt, leave EU and EMU and introduce the Drachma currency again and start over.

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