Loans and Finance

Loans and Finance


News and information about loans, money, debt, finance and business issues.
Powered by

Wednesday, October 19, 2011


As Greek Prime Minister, George Papandreou, appeals for support from Greeks ahead of a vote later today on tax hikes, wage cuts and layoffs Greece has gone on a 48 hour strike. The strike will shut down government departments, businesses, public services and even shops and bakeries.

Sadly for the people of Greece, if the austerity measures are actually implemented (which of course they won't be, even if the vote passes) it will not make one jot of difference wrt improving the country's (or indeed the citizens') financial situation. 

Greece went bust a long time ago, and is only being kept going by grudging handouts from the EU.

The only solution is for Greece to leave the Eurozone, and devalue its debts under a "new" Drachma.

No comments:

Post a Comment