Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do.

There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Thursday, 23 February 2006

LIVING ON BORROWED TIME ?

130 billion euro bailout for Greece could well be termed,

“ Give money , will splurge “

But lenders are not amused. They want the Greeks to tighten their belts. And here is how :


·     Current monthly minimum wage of 750 euros to be reduced by 22 %

·     Younger employees ( below 25 ), must suffer a cut of 32 % . Half of them are in any case unemployed !

·     Social security contributions to be cut by 5 %

·     15,000 workers to be paid 60 % of basic wages and be dismissed after 1 year

·     State work-force to be cut by 150,000 by 2015

·     Retirement age to be increased

Even as Greeks are rioting in the streets , no one is asking :

“ How long can any individual or a nation continue to live beyond its means ? How long can you live on borrowed time ? “

The writing is on the wall

Germans and French are unwilling to play , “ my brother’s keeper “  , for Greece , Portugal , Italy , Spain , UK etc

Forget global warming. Global cooling is around the corner !


With regards


HEMEN  PAREKH