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lebiez piranaj

Euro crisis opens old wounds for Greece, Germany - 0 views

edition.cnn.com/...index.html

austerity measures Euro Greece Germany

shared by lebiez piranaj on 10 Dec 12 - No Cached
  • A country's economy devastated, unemployment endemic and suicides rising -- this is the reality in Greece
  • Greece -- the birthplace of democracy -- is now reliant on eurozone bailouts and subject to political decision-making in Brussels and Berlin.
  • Merkel met with Greek Prime Minister
  • ...14 more annotations...
  • a Greek pensioner took his own life outside parliament citing austerity measures for his desperation.
    • lebiez piranaj
      lebiez piranaj on 10 Dec 12
       
      austerity measures- when a government reduces it's spending and/or increases its user fees and taxes so that the country can pay back creditors
  • she pledged German support for Greece but made it clear that Greece cannot -- and therefore will not -- yield on its austerity reforms.
  • Greek police were deployed to keep the protests under control.
  • Some demonstrators evoked bitter memories of the brutal Nazi occupation of Greece from 1941 to 1944
  • Spyros Economides, a senior lecturer in international relations and European politics at the London School of Economics, said Greeks are "not very positive at all" in their views toward Germany.
  • it's also younger people who are unemployed and suffering economic dislocation
  • To stay, the Greeks are coming under intense pressure from eurozone peers --- led by Germany -- to implement further austerity measures of 13.5 billion euros [$17.7 billion].
  • the projected cuts could break down into 11.5 billion euros worth of cuts
  • from pensions and wages as well as the sale of state property
  • and the remaining 2 billion euros from additional taxes.
  • Frank Schaeffler, a German member of parliament in the Free Democratic Party, has previously advocated the sale of uninhabited Greek islands to fund creditor repayments.
  • Schaeffler said: "I am afraid Germany has softened its stance on Greece lately ... Samaras himself has said that Greece is willing to sell off its uninhabited islands."
  • Germany is concerned that a Greek exit from the eurozone could lead to a domino effect
  • could lead to a full break-up of the monetary union.
  • lebiez piranaj on 10 Dec 12
     
    Q1: Do you think putting up their uninhabited islands is a good recompensation method in case Greece doesn't pay off their loans and are the Germans indebted to Greece for their misactions during World War 2? Q2: Do you think Greece should be toughening it's austerity measures even though it might mean increasing Greece's current unemployment rate?
  • Samson Luong on 17 Dec 12
     
    1. If Greece's economic situation worsens I believe putting up their uninhabited islands would be a great way to compensate because they are likely to be worth a lot and currently are not being used. 2. In my opinion, I feel Greece's unemployment rate is at a very risky point and doing anything to further detriment that would be unwise.
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