Tuesday, March 25, 2014

Finally Getting Around to Greece Again

Sorry I have been away for so long, although this may explain why:

"Greece reaches agreement on bailout loans" by Elena Becatoros and Nicholas Paphitis | Associated Press   March 19, 2014

RelatedGreece to need new $55 billion bailout

ATHENS — Neither Finance Minister Yannis Stournaras nor Prime Minister Antonis Samaras made any mention of public sector firings or reports the government was under pressure to allow companies to carry out mass job cuts.

Nor did they refer to contentious market reforms, including a proposal to allow supermarkets to sell nonprescription medication.

Samaras instead outlined a series of relief measures, including $695 million to be distributed to help more than 1 million needy Greeks, including security forces personnel on monthly salaries of about $2,000. 

Translation: they have to pay off the police to continue protect the government crooks and repress the public. (Doesn't that average out to a chump change $695 dollars each?)

Other measures were cuts in social security contributions for both employers and employees to encourage hiring. Greece’s unemployment stands at 27.5 percent, the highest in the European Union.

That hasn't gone over too well with the Greek people.

The prime minister also said $27 million would be given to services that care for the homeless, while an additional $1.39 billion would go toward paying off the state’s internal debts — for goods and services received from the Greek private sector. 

Look at the ratio there in terms of debt service to public service.

‘‘Of course, the effort continues,’’ Samaras said. ‘‘We will become a modern European economy. A new Greece.’’

The austerity measures Greece has announced over a series of years have led to a backlash from labor unions, which have staged repeated strikes in protest.

Related:

"The measures led to widespread and often violent protests, and have seen thousands of businesses shut down. Unemployment has reached 27 percent."

That paragraph was cut from the web version?

"The country’s statistical authority said Friday that the second-quarter contraction was considerably better than last month’s flash estimate, provid[ing] a morale boost to the conservative-led government, which faces mass anti-austerity protests during the weekend as well as a grueling inspection by its international creditors later this month. Analyst Vangelis Agapitos said, ‘The economy has to be fully turned round from a model based on domestic consumption and a big public sector to a more outward-looking and internationally competitive model.’’ 

Meaning it must be turned into an economy that serves debt-enslaving bankers!

Civil servants were scheduled to begin a 48-hour nationwide strike Wednesday, while Greece’s largest union has called for a general strike on April 9.

That was days ago and nothing in my Globe since.

--more--"

RelatedGreek pharmacies to strike over deal with lenders

Didn't make my printed paper.

I note the strike coverage because that is what I am looking for, although one can hardly imagine why Greeks are striking when the economy is doing so well and their credit rating has been boosted. 

Of course, there are always the right-wing whipping boys useful for distractions and defamations even though they can't find the terrorist, so much so that it is enough to make you sick

Also see: Spanish 'Anti-Austerity' Protesters "Sick Of This System They Call Democracy"

We will see if it makes my Globe tomorrow.