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Greece: Another recession

After the maxi-IMF-EU loan not seem to improve things: data on unemployment, inflation and financial forecasts speak for themselves. Meanwhile, the IMF and the EU, worried, do not preclude the adoption of new restrictive measures.
In May 2010 the IMF and European Union settled an aid to 110miliardi to save Greece from bankruptcy but, to date, the country still seems to suffer the burden of a crisis that weighs on my shoulders like a boulder.
necessary condition to the granting of the maxi-loan, was the application of a austerity program launched by the Hellenic Government, which provided, as usual, a series of drastic cuts in public spending. The so-called structural adjustments have spread and are disseminating is still a worrying social crisis: the growing Iva, increase taxes, not just luxury goods but tobacco, alcohol and fuel, cuts in salaries of civil servants, dismissal for thousands of workers emptied the coffers of schools and universities, small pensions .

went on strike almost all of the categories: civil servants, truck drivers, flight attendants, railroad workers, workers, pensioners, police, businessmen, teachers, professors and students. Everyone, more or less directly involved in the policy adopted, contesting the operations of government.
The unemployment rate reached 12.2% , there are more than 4 million people out of work and young people are most affected, there are 33 per 100 for a walk.

The Greek Network for the fight against poverty (EAPN) also estimated that the country will register at this rate, up a third of its population below the poverty line, in other words, the 30% Greek citizens will shoot later this month with less than 470 euros a month.


The financial forecasts for 2011 are hardly reassuring "Greece has a very high risk budget," admits worried the IMF, while in Brussels, the EU commissioner for economic and monetary affairs Olli Rehn, the After the last meeting of the Eurogroup said "Greece may have to take the new austerity measures to meet budget deficit targets for 2011." The country is in recession - according to the latest IMF report, mostly to Europe, released October 19 - and sees no light, with a growth rate of - 4% for 2010 and - 2.6% expected 2011.
The deficit rises more than expected in the draft budget law for 2011 and year-end should be around 9.3% of GDP.
debt is due to the unstoppable revenue, still too low and an upward adjustment of the 2009 deficit. The austerity does not seem to have changed a lot of things ... and while the public debt rises and decreases the country, one wonders whether Greece will ever be able to repay the money granted "so generously" loaned from around the world.

Eleonora few Source: http://www.fuorilemura.com/