Greek unemployment hits new high, as protests continue against austerity measures

[Joanne98]

Source: AP

ATHENS, Greece (AP) - Unemployment in crisis-hit Greece has hit a new seven-year record and inflation is stuck above 5 percent, as protests continue against the government's harsh spending cuts and tax increases.

The Greek Statistical Authority says the jobless rate reached 13.9 percent in November 2010, compared to 13.5 percent in October.

The authority also said Thursday inflation was 5.2 percent on the year in January, unchanged from December.

Greece was rescued from bankruptcy last year by a euro110 billion international loan package. In return, the governing Socialists cut pensions and salaries, while raising taxes and retirement ages.



Read more: http://www.canadianbusiness.com/markets/market_news/article.jsp?content=D9L9U8QG0

[xchrom]

1. recommend

[GoCubsGo]

2. I hope our Congress is watching.

I hope they're watching Ireland and the UK, too--not that I actually believe those dumbfucks are capable of learning anything from it.

[bossy22]

3. i dont get the pugs

how can you be that stupid to ignore whats going on in these countries

[Lydia Leftcoast]

4. Let's see, your economy is in free-fall, thanks partly to manipulations by the banksters, so

you reduce the purchasing power of ordinary people! Yeah, that's the ticket....NOT.

[katnapped]

5. Apparently it IS the ticket

Look how many in this country have co-opted this same stratergy

[madrchsod]

6. greece and the surrounding countries have been bled dry by the rich

it`s amazing how much cash is funneled around the world.

[Lydia Leftcoast]

7. And then you tell the audience for right-wing media that these Mediterranean

countries are in trouble solely because their social benefits are too high?

The result: Mention single-payer health care or not cutting Social Security or Medicare, and like Pavlov's dogs, the right-wingers say "We'll end up like Greece."

[bluestateguy]

8. Austerity does not work

You just throw more people out of work, leading to less tax revenues coming in, and more debt. Rinse repeat.

[arikara]

10. They don't care, unemployment is the first goal of these austerity measures

then they can bring in the lower paying jobs with unpaid overtime, no benefits and the unemployed are fighting for them so they can put food on their families. Modern slavery.

[defendandprotect]

9. k/r