Luxembourg PM Jean-Claude Juncker is in Greece today to meet with Antonin Samaras. Ahead of the meeting Samaras issued a plea to Europe to give "Greece air to breathe," meaning, allow Greece more time to implement the changes demanded by the EU. Whether Greece is allowed the asked for changes or not the situation is hopeless.
What Greece needs is a reduction in the public sector, lowering taxes and easing of regulations. What they are pleading for is going slower on reducing the deficit, meaning that they want to continue with current practices a little longer; i.e. two years longer.
Wednesday, August 22, 2012
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