The lack of stability in Europe has given rise to a slowing growth and well as demand for luxury goods and services. " The private jet charter business has been in a slow decline since the Greek bailouts", states Mark Fleischmann CEO of PrivateJetsIntl. The ongoing indecision in Greece, Europe and the US over the Greek Default and the Fiscal Cliff have caused much anxiety for a solution of this ongoing saga. The US has been equally affected by indecision by a downgrade by the ratings agency. Likewise in Europe a swift decision has not been in the cards. There is much talk over whether Greece will default on debt obligations. Furthermore, there is much instability in world markets over a possible Greek exit from the Eurozone. This would not only affect Europe's stability but will also have a major impact on the US and the Global Economy.
"Private jet charter has been significantly affected these past few years", states Mark Fleischmann, Owner of PrivateJetsIntl. The lack of expediency in dealing with the financial and economic issues has caused a stagnation in the World Economy. The lack of confidence has caused a slow down in businesses in general. As private jets are a luxury business their business has been affected dramatically. Also, we see a contraction in the Greek economy which has a direct affect on everything from the Euro to Global Trade.
The only solution to this imminent Default is to be more fiscally responsible. Governments can no longer bank on bailouts. They need to become more responsible. When you spend more than you earn you will always operate at a deficit. More government spending is also not the solution. Eventually, the money must be repaid.
Since Greek is in a terrible contraction with no new growth we need to take note that this was caused by overspending. Let's hope we can avert a Greek Tragedy!