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Comment by truth on February 7, 2012 at 8:24am

IMF: “Greece Needs to Cut Wages to Compete” – How Will People Live is a Question Nobody Cares to Answer…

Posted by keeptalkinggreece in Economy

Drawing plans on sheet papers seem the easy way. IMF’s chief economist Oliver Blanchard said that Greece needs to cut wages in private sector to boost competitiveness. However neither Blanchard nor the other wise-guys, economists or not, seem to be able to answer a simple but practical question: With all
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Comment by truth on February 7, 2012 at 8:22am

Athens: Angry Protesters Set German Flag Alight (video)

Comment by truth on February 7, 2012 at 8:17am

Protestors causing mayhem in the streets of Greece/AFP

ATHENS, Feb 7 – A general strike gripped Greece on Tuesday in protest against new austerity measures demanded with increasing urgency by the European Union as part of a debt rescue deal with banks.

Thousands of protesters braving a light rain assembled on Syntagma Square in central Athens, a landmark of Greek anger against austerity measures from the EU and International Monetary Fund.

Greece is at the limit of a timetable to agree new budget action, and to conclude a debt-write-off deal with banks, under a second rescue package which it needs to avoid debt default in about six weeks’ time.

“No to public sector layoffs!”, “No to to cutting the minimum wage!”, protest banners said as part of a 24-hour strike against severe budget action that had begun under the slogan “That’s enough, we can’t take any more.”

http://www.capitalfm.co.ke/news/2012/02/general-strike-his-greece-a...