I reckon what you seeing is an attempt to restructure Greek finance and even society. Some aspects may be over due but it is going to be very tough. Tourist trade will take an even bigger hit than currently. It will be even more problematic after olive oil is made in other countries (such as China) by new technologies. And if Crete secedes from Greece next year then agricultural produce and revenue will be lost to Greece.
I can't imagine how Greece can extricate itself from its current fiscal crisis.
LESK is spot on. Greece cannot repay those loans already made, how is she going to repay any more. Biting the bullet is something most have to put up with. My small business which I am still running though well past retirement age (supplementing my pension), makes less nett profit than 15 years ago due to turnover down yet overheads rising each year. Makes me mad when people go on strike because they only get 2% annual increase or their public funded pensions may be reduced..try being self employed..but that's another story.
Does anyone know what the actual 'New Austerity Measures' that were voted on today actually entail
All we can gather from UK news is the sell off of some Publicly owned assets and tax increases and I did see 1 comment from the protests outside the Greek Parliament about how were they supposed to survive on 300 euro a month?
It would help us all understand the situation if someone could list what was agreed to today
Yes I understand that the people may not accept the package and it may fail to get fully implemented, but it may help put things into perspective
Greece should never have joined the Greedy Euro club and would do well to get out as soon as possible and return to their own currency, the UK would do well to heed what is happening in Greece and should also leave the EU even more so that these unelected faceless people are requesting even more money.
Yes leaving the Euro and the EU will be painful but better to leave now than keep having the goalposts moved everytime the IMF and Europe request it in order to receive more money that the Greek parliament know full well they cannot pay back and will eventually have to default on its loan payments.
The Euro was never a good idea and only the likes of Germany and France were ever going to benefit from it.
Message posted by Jackie F on 30áJuneá2011 at 11:10am - IP Logged
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