Wednesday, 10 October 2012

Shocking: 1100 billion EUROs down the drain

The IMF has calculated that the European governments and central banks to Europe and other member countries have so far wasted a total of 1100 bn euro in effort to save the sinking government and banks in last 3 years. And after that much money also countries and banks in Europe are no where close to stability, still risk of them going down are same or greater as they were at start.
and all that money 1100euro spent has gone to save the banks and private investors who had invested in the banks without doing any due diligence, before investing. So by spending such huge money govts. and in fact saved private investors and banks who lent to govt. and in turn made people of the respective countries poor for generations to come as the people will have to pay all this money in forms to tax of spending cuts over many future generations.
 Just imagine if the same amount of money was spent in improving infrastructure, education , supporting small businesses or funding new future technologies/research, what a better life we would have got?
But, the govts. of the day!