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 !