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To get the next IMF loan there will be more austerity measures voted on by the Greek government.
Unemployment is over 16% now and workers took to the streets in violent protest amid a 48 hour general strike by workers.
Protesters clash with riot police in Athens strike - Yahoo! News
"The clashes with police came at the start of a two-day strike called by unions furious that the new euro28 billion ($40 billion) austerity program will slap taxes on minimum wage earners and other struggling Greeks. The measures come on top of other spending cuts and tax hikes that have sent Greek unemployment soaring to over 16 percent.
..
But even lawmakers from the governing Socialists have been upset over the latest measures demanded by international creditors, and Prime Minister George Papandreou has struggled to contain an internal party revolt. He reshuffled his cabinet earlier this month to try to ensure his party's support for this vote, but the Socialists still only have a 5-seat majority in the 300-member Parliament.
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But many Greeks insist they should not be forced to pay for a crisis they believe the politicians are responsible for."
Spoiled brats. They can either see spending cut and taxes raised or have their entire country collapse. These idiots have no idea how bad things would get if their country defaulted.
Spoiled brats. They can either see spending cut and taxes raised or have their entire country collapse. These idiots have no idea how bad things would get if their country defaulted.
Are you speaking of the Greeks, or American Democrats?
But many Greeks insist they should not be forced to pay for a crisis they believe the politicians are responsible for.
It's not just Greeks who believe that. But nobody can just deny what's happening; we all live with the results whether we like it or not--and usually, we don't.
Why do "austerity measures" always fall on the already destitute? Why not apply a special "austerity" tax on the top one percent of the economy.
The underlying problem facing all of the industrialized economies is workers are being permanently displaced by automation. Capital is being substituted for labor and labor is being left out of the resulting economy. This is also happening in the other developing world where mechanization is removing millions from agriculture while the new factories are just as automated. There are simply no longer any jobs for the displaced. A substitute for wages has not been developed to transfer enough money to the unemployed to allow them to purchase to output of the automated factories.
Why do "austerity measures" always fall on the already destitute? Why not apply a special "austerity" tax on the top one percent of the economy.
The underlying problem facing all of the industrialized economies is workers are being permanently displaced by automation. Capital is being substituted for labor and labor is being left out of the resulting economy. This is also happening in the other developing world where mechanization is removing millions from agriculture while the new factories are just as automated. There are simply no longer any jobs for the displaced. A substitute for wages has not been developed to transfer enough money to the unemployed to allow them to purchase to output of the automated factories.
If people don't feel the pain then they will never change their ways. The govt is doing the right thing.
Austerity measures and revolts in the streets are exactly what America needs. Until the people stand up against their government, we will continue on our path to fiscal hell.
It's past time for a citizen revolt in this country.
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