The European Debt Crisis and the Euro - Page 139

Greece was hit by a new wave of strikes on Monday as public employees protested a massive redeployment plan which is an integral part of the debt-laden country's obligations to its creditors.

Secondary school teachers kicked off a week of walkouts, with students attending classes on a severely reduced schedule due to the strike launched by Greek education union OLME.

"No to extended leave, redundancies and mandatory transfers," read a sign tacked onto the closed door of a high school in Athens' well-to-do Kolonaki neighbourhood.

State school teachers will gather from midday in Athens to attend protests, along with university staff who will also force shutdowns at higher education establishments this week.

Staff in unemployment benefit offices will also leave them empty to join the protests, with hospital doctors joining the strikes from Tuesday to Friday.

As part of the controversial redeployment plan in the country reeling from six years of recession, civil servants have to accept new posts or spend eight months on reduced salaries as alternative posts are found, with the risk of losing their jobs altogether.

Greece has agreed to redeploy 12,500 civil servants by the end of September as part of a general restructuring of its public sector, in return for the next instalment of its EU-IMF rescue loans.

On August 12 2013 12:02 aksfjh wrote:

So, this brings up a very valid and troubling thought. What are these young people going to do? At some point, I'm sure many of them will try to emigrate into other EU countries, which will no doubt put extra strain on those countries. At the same time, it will artificially inflate the issue of "aging population," essentially delivering yet another blow to their budget. I just don't see how any of this can turn out better for Greece for the next 25 years.

On September 18 2013 01:49 Rassy wrote:
Documentary about the euro and the german elections on dutch tv yesterday.
Soros, an american economic analist and a german market analist gave their opinnions.
They did some calculations and according to thoose:

Greece needs to raise its labour productivity with 100% to be competitive or
Euro/dollar needs to go to 0.30 (now 1.30) for greece to become competitive.
If euro would go to 0.30 then inflation in germany will soar in 5 years, effectively whiping out 70% of the purchase power of the german safings.

Looks like a lost case though they where probably a bit to pessimistic.
Think after german election they will eventually find some middle road, or the northern countrys should leave the euro as soros suggested.

http://www.uitzendinggemist.nl/afleveringen/1366104

Quiet a bit is in dutch but soros and the american analist are in english, the german market analist is in german.
All with dutch subtitles.

On September 19 2013 02:54 Rassy wrote:
Oh i completely agree with you, though i do not agree that japan had stagflation. They had stagnation with verry low inflation/small deflation up till recently, and i do think that is the least worst outcome as well. But even japan has now adopted QE as a "solution" for their "problems"
Am not saying i favor this "solution" at all, i just think that its the way events will unfold.
Europe will become more like the usa (unfortunatly imo), difference between rich and poor will grow and we will get a harder form of capitalism.
Maybe its inevitable in the end and neccesary to stay competitive, due to the increasing competition worldwide. I can not realy judge this but i surely dont like it.

On September 19 2013 05:06 WhiteDog wrote:

We don't really need those rich ass dude who can't manage shit and get paid too much.

KIEV, Ukraine (AP) — A protest by about 300,000 Ukrainians angered by their government's decision to freeze integration with the West turned violent Sunday, when a group of demonstrators besieged the president's office and police drove them back with truncheons, tear gas and flash grenades. Dozens of people were injured.

The mass rally in central Kiev defied a government ban on protests on Independence Square, in the biggest show of anger over President Viktor Yanukovych's refusal to sign a political and economic agreement with the European Union.

The protesters also were infuriated by the violent dispersal of a small, opposition rally two nights before.

While opposition leaders called for a nationwide strike and prolonged peaceful street protests to demand that the government resign, several thousand people broke away and marched to Yanukovych's nearby office.

A few hundred of them, wearing masks, threw rocks and other objects at police and attempted to break through the police lines with a front loader. After several hours of clashes, riot police used force to push them back.

Dozens of people with what appeared to be head injuries were taken away by ambulance. Several journalists, including some beaten by police, were injured in the clashes.