Greek debt still causing problems

The euro fell to the lowest level against the dollar in  a year.

Meanwhile, in Greece, public sector workers storm the Acropolis and tangle with riot police over the bailout. A general strike is planned for Wednesday, nationwide, but the public sector added today, as well. The plan to bailout Greece includes wage freezes, pension cuts, and tax increases. Fears that the plan targets low income Greeks have driven many to protest.

Two days ago, the European Union and the International Monetary Fund announced a three year $146 billion bailout for Greece. But, the bailout seems to be serving as a catalyst, igniting every problem and issue with the euro since its introduction. Some believe that the European Union is the problem, not the solution.

The question now is which country will be next?


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Posted on May 4, 2010, in Global Biz, Market Trends and tagged , , , , , , , . Bookmark the permalink. 1 Comment.

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