If you have read about the negotiations over Greek debt program and Greece's rejection to continue the austerity program established and agreed upon with the EU in the not too far past, this article will bring you up to date on the fate of the continuance of EU support. I find it interesting that a poll showed 81% in favor of staying with the Euro, yet over 50% voted the leftest, who up front said he'd can the austerity program, into office. Greece does seem to be in a lose-lose position. In my opinion, they will fail regardless of whether the EU pumps in more money (loans) or not. Austerity programs seem a must. If they are just looking for a slightly less severe program, and thus recovery over a longer time, what would be the harm. Their unemployment is out of sight already. They need something to create jobs!
In the mean time investors, close your eyes tomorrow and suck it up. Just another bump in the road.
No comments:
Post a Comment