The left goes violent in Greece just like they may do in California when the austerity measures kick in for the Golden State.
The Greeks were told that they didn’t have to work as many hours, could retire early and could be paid benefits in Greece even though the government was simply borrowing to fulfill the entitlements.
The Greek government borrowed money that it can never pay back in full. An entire welfare generation expected the government to pay for their “good life”.
And of course the general media is accepting of the protesters rights to express themselves and the protesters rights to their entitlements.
These programs were established decades ago and once these unsustainable entitlements were established it became politically impossible to eliminate or reduce them. Sound familiar? Think California, New York and New Jersey?
And even though Greece never met its promise to restrain its public debt to 3% (when it joined the euro zone) of the country’s gross domestic product it got to 120%. Now they are recommitting to this promise to get the amount of their debt down to the 3% standard by 2014. It’s never going to happen - think default! The result of Germany and others lending to Greece will simply delay the default.
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