Greece is in debt and is now accepting a 110 billion euro (US $146 billion) package of aid from the international community. The country made a promise to its citiziens and the world to cut its budget deficit to 3 percent of gross domestic product by 2014, according to the country's Finance Minister George Papaconstantinou. The first wave of the money from the aid package is planned to go out by May 19th. Right now there is not much stability in their government, and they want to correct that, to save the country. President Barack Obama called and talked to the Greek Prime Minister George Papandreou about the whole situation and also spoke of "the two leaders discussed the importance of implementation going forward." Greece is going to cut most of their money to meet the defecit through the public sector. This has caused much upset and there have been many protests and riots. Seven police officers were injured and nine people were arrested -- three for attacks on police and six for theft from stores.
Opinion:
I think that although this is a terrible situation for the country of Greece to be in, they are at least working towards becoming a stronger nation by reducing their debt and paying back the loans. However, like most Greeks, I do not think they should be using money from the public sector to pay back their debts because this will only be taking more money away from the people in a time when they need those institutions most. I think the they should cut spending on military or government, and start passing new policies such as lower interest rates on loans, etc. to encourage the citizens to trust the government again. I think the protesting is bitter-sweet because while it has gotten out of hand, it still has created worldwide attention to the problems they are experiencing, and also allowed the citizens the chance to express their opinions.
http://www.cnn.com/2010/WORLD/europe/05/02/greece.bailout/index.html?eref=rss_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_topstories+%28RSS%3A+Top+Stories%29
Opinion:
I think that although this is a terrible situation for the country of Greece to be in, they are at least working towards becoming a stronger nation by reducing their debt and paying back the loans. However, like most Greeks, I do not think they should be using money from the public sector to pay back their debts because this will only be taking more money away from the people in a time when they need those institutions most. I think the they should cut spending on military or government, and start passing new policies such as lower interest rates on loans, etc. to encourage the citizens to trust the government again. I think the protesting is bitter-sweet because while it has gotten out of hand, it still has created worldwide attention to the problems they are experiencing, and also allowed the citizens the chance to express their opinions.
http://www.cnn.com/2010/WORLD/europe/05/02/greece.bailout/index.html?eref=rss_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_topstories+%28RSS%3A+Top+Stories%29
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