Jun 15, 2011

Riots In Greece

Riots In Greece

Greece is in deep trouble and has been for the last 6 months, but it seems to be coming to a cross roads. Greece's creit status was reduced to one level above junk status yesterday and this has probably resulted in the EU and IMF having to loan Greece even more billions of Euros to simply pay it's debts. The Greek government has set in motion an action plan - tax hikes and massive spending cuts in the public sector - to reduce the national debt to acceptable levels, but the Greek populus is having none of it. Today thousands of people are protesting, rioting and on strike in Athens and other Greek cities. You reap what you sow I guess. If the Greeks wokred and paid taxes as much as they do going on strike and rioting their country would not be in this mess.

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