Tag Archives: Euro

Analysis: What Greece tells us about Europe

Athens, Greece (CNN) — The size and scale of the protests in Greece are hard to ignore. Athenians filled Constitution Square in the heart of the capital protesting the austerity measures being put forward by the government of George Papandreou. This is his first major test on the ground since taking office last autumn.

It is quite easy to be swept up into the strike action in Greece and the other labor protests we have been witnessing in Europe this week from the airline sector (Lufthansa and British Airways) to the energy sector (French giant Total), but it would be a mistake to see them as classic disputes over wages.

In Greece, Spain, Portugal and Italy protests go right to the heart of what many in the labor movement and broader society see as a birthright — to continue to enjoy benefits that in today’s globalized world are disappearing fast.

Taking Greece for example, investors saw the recent strike by Ministry of Finance workers as somewhat ironic since they are the very members of the civil service who are at the forefront of the restructuring plan itself.

It is not often discussed, but many government workers enjoy preferential tax rates, can retire at the age of 54 (in some cases earlier) and enjoy 14 months of pay for 12 months worked.

via Analysis: What Greece tells us about Europe – CNN.com.

Advertisements

Leave a comment

Filed under Economic Collapse, Economics, Government Spending, Jobs, Organized Labor, Socialism

Greece debt bailout: EU leaders split over euro crisis | Mail Online

The European single currency is facing an ‘inevitable break-up’ a leading French bank claimed yesterday.

Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide ‘sticking plasters’ to cover the deep- seated flaws in the eurozone bloc.

The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a ‘double-dip’ recession in the embattled zone.

Read More: Greece debt bailout: EU leaders split over euro crisis | Mail Online.

1 Comment

Filed under Economics, Government Spending, Socialism, World News