More Cuts - Greece

BBC News: Reports that the Greek Government will extend its public spending cuts as to gain the next stage of the bailout form the EU/IMF/ECB. Folks the EU/IMF/ ECB have not been impressed with the cuts by the Greek Government over the past two years, what is going to change, will the announced cuts even actually happen, can the Greeks pay the new taxes, will they refuse to pay even if they have the money. The expected pay cuts in the public sector, immediate sacking of fifty thousand public sector workers, and another one hundred thousand sacking over five years will hit the Greek economy hard, people will be pushed on welfare, thus more Government spending, thus higher Greek Debt, it’s a nasty loop folks, one can postulate that Greece will crash and burn, it depends who they take with them when they crash.