Monday May 28, 2012

JAPAN NEWS AND DISCUSSION

Austerity bill passed in Greece as riots leave 100 injured

World Oct. 21, 2011 - 06:40AM JST ( 13 )

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

Order by Time Order by Popularity

13 Comments

2

DSOct. 21, 2011 - 08:24AM JST

Good to see the Greek government at least attempt to be responsible. Do these protester not know that a nation of 30 year old students and 50 year old retirees simply cannot function? Who's going to do the work?

They have spent their own money, maxed out their credit, and now want to spend their children's and grandchildren's money to support themselves. It's an incredibly selfish attitude.

I read an interesting quote about the Eurozone that may sum up the attitude of some of the players: "As the Germans have begun to figure out, just because the Greeks live in the same general neighborhood there is no reason to open a joint checking account."
0

noriyosan73Oct. 21, 2011 - 09:53AM JST

Can anyone in Japan retire at age 50 with full medical benefits for life and income? Maybe the politicians, but not the average worker. Greeks can do the above.It is ironic that a country that began between 1900 and 1600 BC still cannot create an efficient government. There should be no sympathy for the common criminals in the streets in Athens. Unfortunately, what happens in Greece doesn't stay in Greece.
0

noriyosan73Oct. 21, 2011 - 09:53AM JST

Can anyone in Japan retire at age 50 with full medical benefits for life and income? Maybe the politicians, but not the average worker. Greeks can do the above.It is ironic that a country that began between 1900 and 1600 BC still cannot create an efficient government. There should be no sympathy for the common criminals in the streets in Athens. Unfortunately, what happens in Greece doesn't stay in Greece.
0

Samantha Zoe AsoOct. 21, 2011 - 12:50PM JST

Way overdue. If Greek people don't want to tow the line then they should be excluded. They want tonjoin the club and have full benefits all for free. This is the real world.
-2

WilliBOct. 21, 2011 - 04:00PM JST

That is what the Euro currency has brought to Europe. The Euro critics predicted this outcome from the start, already 10 years ago.

There are only 2 ways to go: Either the Euro is split up and countries like Greece are allowed to recover with their own currencies, or Germany and Holland (with Germany being ultimately the only payer) continue to transfer money to prop up the lender banks, until the Greek misery has spread to all of Europe, including Germany itself.

Alas, it looks like Merkel and Sarkozy are hell-bent on the second option. Rough times ahead.
-2

WilliBOct. 21, 2011 - 04:04PM JST

DJ, noriiosan, etc:

It is unfair to blame Greece. The Greek politicians and Greek population have their system and their mentality. In a sane world, an inflating Greek Drachma would take care of the exaggerated government spending.

But with the Euro, they suddenly had access to unlimited credits at low German rates, in a currency that did not reflect their actions. So they went on a binge---- can you blame them?

It is a like leaving your kid in a candy store and then blaming kid for eating sweets.
-2

WilliBOct. 21, 2011 - 04:06PM JST

Samantha:

Same for you. It is misguided to blame the Greek. They are Greeks and acted like, well, Greeks. It is the idiot Euro politicians who thought they can combine diametrically different countries like Greece and Germany in one currency.

What you see is the entirely predictable and predicted result.
1

Antonios_MOct. 21, 2011 - 08:19PM JST

They are Greeks and acted like, well, Greeks.

As a Greek person i should find this insulting, but i don't because i know it is Greece's fault for promoting this "Zorba image" of the fat and lazy guy who loves dancing and drinking but not working.

Let me just remind you that the "lazy" Greece had more GDP per capita in 2010 than the "workaholic" S. Korea. And why don't you take a look at Greece's economic growth during the late 60's - early 70s? It was second in the world behind Japan. Btw, i really can not understand these comments about the"Greeks who retire at 50". It is the worst kind of propaganda i have ever heard. Only the sailors and army officers retire at the age of 55. It is totally inaccurate.

You are right though that there are fundamental differences between northern economies and Greek economy. During the period of Socialism, Greece focused on tourism and services, abandoning at the same time its previous model of industry and agriculture. The whole structure of the Greek economy needs to change in order to be more competitive and be able to face the challenges of the 21st century. Because of that, crucial reforms need to be implemented immediately. And yes, it is a good thing that the austerity bill passed despite all these unnecessary protests.
0

MadvertsOct. 22, 2011 - 12:22AM JST

Government "workers" got retirement at 52 until recently didn't they Antonios?

I love Greece, spent time travelling there a while back. Great people, but striking isn't the way forward, sacrifices have to be made. Other European countries are starting to get pissed at bailing you out, and at our own banks for their reckless lending.
-2

WilliBOct. 22, 2011 - 02:36AM JST

Antonios M:

" As a Greek person i should find this insulting, "

Then you didn´t pay attention. Different countries have different cultures, different government systems, different attitudes towards taxes, elections, finances, etc etc. All based on different histories and different traditions. There is nothing insulting in simply stating a fact.

If Greece is allowed to get its Drachma back and devaluate as usual, they will be just fine. The tragedy is that Greece is now stuck with a currency that is way too strong for its economy.
-1

WilliBOct. 22, 2011 - 02:37AM JST

AntoniosM:

" The whole structure of the Greek economy needs to change in order to be more competitive and be able to face the challenges of the 21st century. "

Impossible. You can not turn Greece into Germany overnight, and certainly not with austeriy programs. The whole concept is ludicrious.
-1

just-a-guyOct. 22, 2011 - 06:31AM JST

The European Union is a monster deserved to be 'vanished' from this world and everything begins from Greece!
1

Antonios_MOct. 23, 2011 - 08:41PM JST

Government "workers" got retirement at 52 until recently didn't they Antonios?

No way. Only SOME women with young children (of less than 18 years old) USED to retire at the age of 52. Most of the Public employees retired at the age of 60-65 depending on how many years they worked, what exactly was their job etc. Now, the age of retirement is settled at 65.

Impossible. You can not turn Greece into Germany overnight, and certainly not with austeriy programs. The whole concept is ludicrious.

Keep in mind that Greece's goal is NOT to turn into Germany overnight. Rather than than, the goal is to reduce the HUGE public sector and deal with issues suck as the lack of productivity, making the economy more competitive, etc. There is no way for Greece to turn into Germany, as there is no way for ANY country to turn into Germany over night. BUT, huge reforms need to be implemented and archaic laws need to be abolished. (For example, there is a stupid law in Greece since 1985 that forbids the construction of ANY building taller than 27 meters. Obviously, you cannot have a fully competitive economy with stupid laws such as this one).