Sunday, November 4, 2012

Greece: once more.

The Greek Parliament is holding another crucial vote next week. That can be only another tightening, right? Right. The bill introduces another cut of 13B in govt expenditures. A YES vote is required for the next disbursement of money for Greece. One problem though; two Socialist deputies have just announced that they will not support the coalition government's plan of further austerity. That brings the Coalition to a plus five vote - it started with a 29 vote plurality. Talk of Greece leaving the EU is heard again. What is not heard is privatization of services and an increase in productivity. In its absence, Greece will stay an impoverished Social Democracy.

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