Greece’s GDP is among the smallest in Europe — $305 billion last year. But, at the rate that its economy is shrinking, that number will be closer to the GDP of Egypt in the next two years. Another slip at the 6% contraction rate — about what it is now — could press Greece’s GDP [...]
“They are asking us for greater recession, which the country can’t take,” Samaras said yesterday. “I will fight to avoid that.” Adding to pressure on Papademos and political leaders, Greece’s biggest public-sector and private-sector union groups, ADEDY and GSEE, hold a 24-hour general strike tomorrow to protest measures that could include a cut in the [...]
Romania’s government collapsed today – the latest European government to give way amid popular resentment toward austerity measures. Romania’s government collapsed today following weeks of protests against austerity measures, the latest debt-stricken government in Europe to fall in the face of rising public anger over biting cuts. Emil Boc, who has been prime minister since [...]
