Could the European Union have something to teach
Sixteen finance ministers from the Euro zone met Monday to help
When Greenhaus appeared Feb. 15 on the Fox Business Network’s “Bulls and Bears,” host David Asman asked, “So what lessons do we have to learn here aside from the obvious one of not spending beyond our means?”
“I think clearly the current situation of southern European countries are not entirely analogous to what’s going on here in the United States, but the broader theme here about spending and spending and spending is something to which we should heed here,” answered Greenhaus.
Stressing that his remarks are not simply an attempt to criticize the Obama administration, Greenhaus said the most pressing matter by far is government expenditure on defense and entitlement programs.
Co-host Elizabeth MacDonald touched upon what she viewed as the larger issue –
“Greece is running a Soviet Union style economy – where it owns casinos, oil refineries, hospitals, hotels … should it be doing more to privatize and is the U.S. running in the wrong direction here?” MacDonald asked.
“Certainly more privatization is better than less; I think that’s pretty clear here. At the same time there's a broad range of areas in which
Greenhaus did defend certain aspects of the
Greenhaus strongly agreed with Asman and MacDonald that the solution is always less government intrusion, not more.
Meanwhile, amidst the truly critical point and crisis in Greece, what some economists fear will cause a devastating domino effect throughout the global market, Greece’s public employee sector simply do not care. Greek workers shut down schools, grounded flights, walked out of hospitals, and cab drivers went on strike last week to protest potential cuts to entitlement. A much broader national strike is planned for Feb. 24.