Sunday, April 18, 2010

Greece lightning

Greek and international officials are meeting this week to hammer out the details of the loans to Greece. But, Greece says that no one has asked it to implement austerity measures, including tax overhauls and spending cuts. It seems hard to believe that these lenders would not demand that Greece do more to cut back. If Greece were able to extract those loans basically on its own terms, it could be a major bonus politically for the Socialists in power. They want the loans but don't want to have to deal with the backlash of austerity measures.

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