Friday, February 10, 2012

Greek Riots and the Eurozone Crisis


BBC News: Reports on violent protest on the streets of Athens, Greece after the Greek Government agreed a new austerity package, that was considered not enough by the EU. Thus folks it comes down to a simple fact, the EU does not trust the Greek Government to follow through, the EU is demanding a further 325 million Euros be cut from Greek spending, also that all Greek political parties almost sign a blood oath to follow through with the austerity. Lets get real here folks, the EU wants Greece to walk out, even the present bailout is not considered enough, the Greek economy has retracted more that when the Greek deal was done in October of 2011, thus Greece needs a bigger bailout, who is going to pay, the Germans stated last night that Greece has not meet the requirements of the deal, thus more demands. The Greeks need to do itself and the EU a favour and default, that would allow for fresh talks, and restart, otherwise the Greek crisis will go on like a bad soap opera.
 

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