Wednesday, March 3, 2010
Greece's Recovery Plan
This article details how Greece is planning to save money. It is interesting because they use some of the techniques we have used in class, as well as using policies similar to our country's.
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Greece's ways of handling their current economic crisis are supported by 52% which I think is a good amount. Taxes have been raised, larger levies on tobacco, alcohol, and fuel, freezing civil servants' pensions, and a small reduction in bonuses I think will be effective and should be supported because this doesn't seem like the Greeks have to give up that much given their very bad financial situation. Dealing with another issue, I also would argue that it may be beneficial if they accept the help of Germany because this shows unity in the EU, rather than having to turn to the IMF.
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