• Anonymous

    Greece’s unity gov. has reached an agreement on the lastest austerity measures demanded by the troika, Greek media sources reported early today: http://www.athensnews.gr/portal/1/53188 http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_09/02/2012_426942

    the leaders are expected to make a statement shortly. It appears they agreed to slash the minimum wage but rejected pension cuts and instead will take the money from the defense budget….

  • Anonymous

    these cuts comes a time when the EU’s statistical agency estimates that 27.7% of Greeks live below or are in danger of falling under the poverty line: http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-08022012-AP/EN/3-08022012-AP-EN.PDF

    but the gov. had little room to maneuver: it was this or default….

  • http://www.facebook.com/profile.php?id=757612496 Christos-Athanasios Christofor

    It’s like driving towards a wall and every few meters you hit the accelerator even harder.

    It’s clear these measures could never work. The flow of money going out of the country has always been far greater than the flow of money coming in; this condition hasn’t changed in the last years of austerity measures.

    When you have a balloon that’s been punctured, squeezing it won’t make it bigger than it already is.
    It will either move its air in different parts of it or make it explode.