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Wednesday, 29 June 2011

The Greek crisis

The vote in the Voulli ton Ellinon (Greek parliament) on whether the austerity measures are passed or not will be taking place at 2 p.m. today Greek time (they are two hours ahead)

I think the measures are incredibly harsh and they punish ordinary people the rich ones that always manage to avoid paying taxes will find ways to survive this, there doesn't, however, seem to be another way right now. The PASOK government (Socialist) won an election about 2 years ago and inherited the mess created by the ND party (Tories) They are now calling for an election knowing full well that they will not have a choice other than to impose these measures. They are being very hypocritical, they have still not explained what alternative method they will use if they won an election?

These are very hard times for the people of Greece and if the country defaults on its huge debt then the consequences will be catastrophic for the rest of Europe and the world. The France have, as per usual, come to the rescue by guaranteeing the debt for 30 years and have once again shown their willingness to take responsibility for a mess created by an over ambitious Euro project. Lets hope the country stabilises soon otherwise the instability will lead to further adventures. Unfortunately unhappy nations either rebel or go to war so this doesn't look good for anyone!

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