Greece Nears Bankruptcy


Picture credits to SodaHead.com

The world is teetering on the brink of another financial crisis with Greece being the first to pull its weight. Today, NEWS.com.au reported that Greece could potentially become bankrupt within the next few weeks. Because of the nation’s long history of financial fraud; accompanied by excessive government and social spending policies, Greece could find no way of covering up its now $367 billion debt amongst the struggling global economy. Soon after the government revealed its new budget cuts, the European stock values instantly plunged overnight, pulling the Euro and global markets down with it. Now, one would expect most educated people to buckle down, strap in and work hard to dig themselves out of such a financial hole. Unfortunately, the citizens of Greece have decided to strike in the face of their government “tightening” the social belt. With over 50% of Greece’s working population being government workers and 80% employed in the services sector, a strike of any kind would put Greece under tremendous social and economic pressure; not to mention a two sector strike currently being held by government workers during a nationwide fiscal crisis.

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