The European Debt Crisis, A Threat To The World ?

Yep, I think that you can sum up the culprit in 1 word: greed!

In Greece taxes used to be from 0-40% according to the incomes (0% for income less than 12000 and 40% for more than 75000 the year), VAT used to be 21%,since 2010 VAT is 23% and since 2011 people have payed 13 more special contributions..... OUR UNEMPLOYMENT RATE IS NOW 20.9%!!!!!!!! Here in Greece the SOCIALIST-DEMOCRATIC party is government since 1974 with the exception of 1989-91 & 2004-07....... The problem is that Greece could never make it into the Euro-zone... Exactly what happened with Argentina and the dollar.Problem also are the corrupted politicians and the people who voted them (here is the overspending in government sector)... Politicians who made a lot of money cooperating with international companies such as SIEMENS and with countries such as Germany, France, Holland, USA, Russia for military equipment (planes, submarines, rockets etc). Greece is geographically in the crossroad of Europe,Asia and Africa. Many counties forced Greece to buy equipment by the one or the other way. And now the banks are coming and say to Greece you will be payING fore ever... Greece is a puppet that IMF uses to make a lot of money... Germany loans at a very low rate (before a while Germany loaned 3.9billion with a -0.01% !!!!!!!!!! yes minus!!!!!!!) and then Greece takes loans at 3%-4% rate...
All of you are right that Greece or Europe crisis is not the end of the world... It is a perfect example though of what not to do or what are the bankers capable of doing.
ps. i apologize for my english