A full 40% of the Greek population is on the Gov’t payroll.
The US State of Ohio is about the same physical size of Greece - and Ohio has a large GDP and on only 15% of the residents of Ohio are on the Gov’t payroll.
They are doomed. Capital has been flying out of the country and out of the banks.
Give it time. The US is catching up fast. Only a matter of time before our professional leeches start rioting because the "rich" have been fully tapped out.
20% is on the government payroll.
Cramer was on CNBC praising the deal so you know it was going to fail.
After the first round of austerity 30% of athens businesses on a main street shut down.
You can’t tax into prosperity.
You have to unlease free enterprise.
Someone at the IMF should be told about October 28th.
It is a national holiday. The Greeks were sent a message from the axis powers to surrender immediatly as they were outgunned and out numbered. General Venizelos sent a one word reply. “no.”
Shortly after the out gunned and outnumbered Greeks beat back the itallian army of il duche and forced the german army to divert to back up the itallians. The German pilots called the greeks those crazy bastards who would stand their ground and shoot back at german dive bombers with rifles and pistols.
So happy “oxi day” (for those in rio linda oxi means no in Greek)
This was to be expected and will spread. Note in the article the officials are telling the people not to pay. What is the EU going to do? send in the blue helmets?