Wednesday, May 05, 2010

Greece Fire Sale


So some Greeks decided to set fire to an Athens bank, possibly because there isn't any money in Greek banks any more, but more likely because they do not like being told they must take austerity steps. Three people inside the building were killed in the attack.
Prime Minister George Papandreou’s reforms, which aim to squeeze savings of 30 billion euros through 2012, include cuts to salaries in Greece’s sprawling public sector, higher taxes on alcohol and cigarettes, and tighter retirement rules. They are part of an effort to clear the way for a 110-billion euro rescue package aimed at preventing the debt-ridden country from defaulting, according to the NY Times.
It must be the higher taxes on ouzo and butts that's getting to them.


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