The purpose of the rescue package - Comment - Israel News | Haaretz Daily Newspaper
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    • Aliza
    • 16.05.10 | 21:07 (IDT)

    is to stop this Greek-"phenomenon" from spreading to other euro-countries struggling with similar economic problems and unemployment like Spain, Portugal, Ireland. If this rescue-package succeeds in saving Greece from bankrupcy, then in 2011 the economic growth in Germany will be 1.6% and elsewhere cirka 1% acc. to Olli Rehn, a EU-commissar of economic affairs. Hereby the package *d save the EU from recession. The Greek gov. is however not weeding out corruption on the top level, where it is flourishing, but instead the gov. is cutting the ordinary Greeks' wages and abolishing their regular subsidies and hence making the ordinary low-wage earners pay for the politicians' lavish spending that led Greece to this situation to begin with. For ex. they've been paid bonuses for arriving at work on time or knowing how to open a computor!!! Totally absurd! Since the Greek gov. is starting its economic rescue operation from the wrong end, I don't believe the EU rescue package will save Greece from her corruption, bc the corruption is not dealt with! The best single rational solution for Greece and the EU 'd be for Greece to return to drakma, Greece's own old money.

    from the article: Exporters bracing for European meltdown
    First published 01:18 16.05.10 | Last updated 01:18 16.05.10
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