Because of this bankruptcy, the new Greek government had to implement a drastic severity policy, with a neoliberal background, with the support of the European Union, the European Central Bank and the IMF which granted, in exchange, a €110bn loan. As of December 14, 2009, several economic recovery programs are essentially going to affect the middle class’ buying power.
he GDP), the successive worsening of the country’s debt note from financial rating agencies, relieved by a global loss of confidence due to the quasi inexistent reliability of national statistics, changed the deal. Severity measures are pouring in and discontent is growing among the population. On May 20, there will be the 5th general strike organized since the beginning of the crisis. (Ref. 100392)
Because of this bankruptcy, the new Greek government had to implement a drastic severity policy,
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