Sunday, February 12, 2012

Critical Day for Greece - Parliament Votes on Austerity Measures

The latest from Yahoo! News:  http://news.yahoo.com/bailout-chaos-pm-papademos-tells-greece-005703038.html

As described by Fox news, "Greece is trapped in a lose-lose predicament: It must deepen an austerity plan begun in 2010 that will throw many more people out of work. Or it must default on its debts, abandon Europe's single currency and see its banking system implode."

Read more: http://www.foxnews.com/us/2012/02/11/greeces-grim-choice-deep-budget-cuts-or-default/#ixzz1mB0qJcCp
For video on the story go to CNN:  http://www.cnn.com/2012/02/12/world/europe/greece-debt-crisis/index.html?hpt=wo_c1

Greece currently has an unemployment rate of 21%, much higher for young people.  Austerity measures already introduced have led to businesses closing and government workers losing their jobs.  Protests are likely to continue, only deepening the crisis for Greece's economy.

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