At least someone somewhere is doing something right
It was either that, or be booted from the Euro. Governments will usually start acting right when their money spigot is threatened.
Almost right, we can’t stop scandals(opokepe) tho. We have big big love about those.
It’s been tough:
Austerity left a lasting legacy in the form of low employment rates, brain drain, capital and capital destruction (…). Reforms (…) contained the liberalisation of wage bargaining, transition from sector-level to firm-level collective agreements; easing dismissals, (…) extending the use of fixed-term contracts, reducing overtime premia, extending part-time shift work (or partial lay-off). (…) During much of the crisis, (…) long-term unemployed represented about 70% of all unemployed, and less than 20% of all unemployed were receiving an unemployment allowance, (…) excluding long-term unemployed, self-employed and the young. (…) Far-reaching privatisations were implemented towards the end of the programs, for debt reduction and attracting foreign investment, including plots of land, airports, ports, and utility companies. source
Awesome news. I’m glad they are doing this, however, I’m not sure what the cost is for the people of Greece… I guess they are paying more in taxes and/or getting worse public service?
Maybe they are taxing the rich?
Nah who am I kidding.
Greece seriously needs some growth to kick in. 2% yearly growth would reduce their debt to gdp by 13% in 5 years while making it easier to pay of the principal.
If they continue like this but with 2% growth they could pay it off relatively quickly.
Can Greece help with debt. It’s less than new Toyota
