This story is a couple of days old. Remember when the Greece Debt Crisis was front-page news? Labor unions in Greece want to bring back those good old days. The Greek economy has not magically healed itself. The shit is about to hit the fan. Just in time for Brexit.
Tensions also increased between two of Greece’s bailout monitors, the European Commission and the International Monetary Fund, as IMF chief Christine Lagarde demanded urgent talks on Greek debt relief.
In a letter to eurozone finance ministers, Ms Lagarde said that talks on “contingency” tax measures that could raise cash if Greece’s finances disappointed were breaking down.
“For us to support Greece with a new IMF arrangement, it is essential that the financing and debt relief from Greece’s European partners are based on fiscal targets that are realistic because they are supported by credible measures to reach them,” she wrote in the letter seen by the FT.
Meanwhile, Adedy, the country’s biggest public sector union, labelled the proposed new pension cuts “despicable”.
The strike, which is also being joined by major private sector union GSEE, will be followed by a rally outside the Greek parliament on Sunday evening.
The EU wants this kept quiet with Brexit looming. Good luck with that. Until then, we dance!
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According to new study by the European School of Management and Technology (ESMT),
“Only 5 percent of international bailout money for Greece was used to kickstart the country’s languid economy, a new study has found. The rest was used to pay back private creditors, many of which were banks. ”
http://www.dw.com/en/most-of-greek-bailout-money-went-to-banks-study/a-19234391
Seems like Greek unions really have nothing to lose (or nothing to gain, dependign on how you looks at it)
Indeed. You can see why Merkel wanted “conditions”
i need that good’ole faithful summer greece sell off.
Bring it on
What a terrific dance scene.
As far as Greece goes it’s such a small
country and all the banks who lent them
money , knowing they could never
pay it back– they deserve to lose it all
See btn’s post, above. The banks are doing splendidly in the Arrangements.