How much worse will the Greek Economic Crisis become?

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With less than a month to go until default – Euro zone finance ministers signed off on another bailout for Greece today. But no one is cheering – as this latest injection of money into the austerity-ravaged nation isn’t likely to go very far either. The bailout will keep a Greek default at bay for at least a few more months while Europe struggles to find a solution to the ongoing debt crisis.

In the meantime – Greece is giving up its sovereignty handing banksters unprecedented control over budgetary decisions – and putting the Greek people through immense pain with lay-offs, spending cuts, and the winding down of public services. And with elections coming up in Greece in April – and far-right and far-left political parties showing substantial gains at the polls – this crisis could get a lot worse.

Not to mention – other European nations like Italy, Spain, France, and the U.K. - are pursuing their own anti-growth austerity agendas, which will only worsen the economic situation on the continent. The bankster plan to bulldoze the European economy and snatch up chunks of the commons at a fire sale price is working flawlessly.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Joined:
Dec. 29, 2009 10:59 am

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Greece has family values and communities that have seen worse than economic collapse. My money, oh sorry, my personal credit, is on these people going Iceland. Let the banksters twist slowly in the wind.

DRC's picture
DRC
Joined:
Jul. 31, 2007 4:01 pm

you sure ask a lot of questions for a guy from Michigan.

harry ashburn
Joined:
Jul. 31, 2007 4:01 pm

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Our kids are counting on us to reverse austerity.

According to UNICEF, even in the world's richest countires, children remain “the most enduring victims” of the recession. In the last six years, 2.6 million more kids have fallen below the poverty line, and more than half of them live right here in the United States.

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