Friday, November 9, 2012
Greece Government Approves Austerity Budget
The Greek government did what it was told to do in order to get $40 billion aid package that will keep the government from defaulting on its debt. The medicine prescribed for Greece will cause its economy to shrink further and it will lead to more social unrest. It has already taken some of the hemlock, and its economy has shrunk, while its debt to GDP ratio has increased. This dose of the medicine will have similar results. It will make Greece less able to pay down its debt, and social unrest will grow along with disrespect for government. The doctors who prescribed the medicine will appease some of its electorate which believes that sinners must be punished for their economic transgressions.
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