Bankruptcy

More Trouble in Greece

By mcbride

As has been noted, under pressure from the EU, the socialist government has begun the hard process of cutting government programs.  This has resulted in a series of strikes from several sources, including the powerful unions.  ?”Everybody is watching Greece to see the depth, intensity and sustainability of protests,” said Theodore Couloumbis, deputy head of the ELIAMEP think-tank and a professor of international relations at the University of Athens?.There was no news on television and radio as journalists were on strike. Bank employees, firefighters, tax collectors and even some police officers were also among those marching. Unions are preparing further action in April and May.  Most Greeks believe that, despite the protests, the cash-strapped socialist government will press ahead with a budget plan agreed last week after months of wrangling with the EU and intense pressure from financial markets.  But the 4.8 billion euro ($6.5 billion) package of cutbacks is viewed by many as hitting the wrong people in a country with widespread corruption and tax evasion.?

Here is a  link: http://news.yahoo.com/s/nm/20100311/wl_nm/us_greece_strike

Michael

Full post as published by Texas Lawyer Blog on March 11, 2010 (boomark / email).