BBC News: Reports violence has broken out in Greece during its 48 hour General Strike. One has to be honest, the Greek Government does not have a choice, it has to make deep cuts and raise taxes, otherwise NO money from the troika of the EU/IMF/ECB. The Greek people have years of austerity to face, its going to be tough for Greeks, the good days are well and truly over, the previous miss management of the Geek economy means that the Greek children of tomorrow will be paying back the Geek debt. The rescue plan for the EU calls for banks holding Greek debt to write off 50% to 60% of that debt, thus the banks are going to take a hit, thus the banks will need a bailout. It was reported in the Guardian last night that France and Germany had agreed a two trillion stability fund, lets see if happens folks. Thus far EU politicians don’t give you much confidence, lets hope they turn in to leaders soon, otherwise we are all up the creek.
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