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Greece Goes on Strike

Wed Feb 24 2010

I made the comment in class on Monday that we could expect to see strikes and probably riots as a result of failed promises on the liability side of world city state balance sheets. Well, we did not have to wait long for that. Greek unions are calling for nation wide strikes, and half of Greece, 5 Million, are in unions.

As the article says, such groups believe they are immune to market forces. We have the same thought patterns in many states and cities here. This will not end well.

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2 responses to “Greece Goes on Strike”

  1. Aaron Avalos Avatar
    Aaron Avalos

    Wow, it’s hard to imagine that numerous people around Europe went on strike. The Wall Street journal reported that nearly a million workers protested to their govenment. These finaical times are going way beyond what anybody expected, Europe, a country that is already struggling with their finanical ruined can’t afford something like this. With all the struggles going around, businesses are trying to find alternitve ways of keeping employees without getting rid of them. Instead of 40 hr work weeks they’ve cut it diwn to 35, benefits have been cut, and same as vacation time, and yet we still ask our employees to perform at a 100% max effort. It’s like an old saying, when you back someone into an corner, the only thing that person can do is fight back; and thats were we’re seeing right now in Greece. People are fighting back and stepping up to the plate and are having enough that why should the people suffer when our own government is the one putting us in this situation. Link: Wall street journal.com….. Greece goes on Strike.

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  2. Dennis Elam Avatar
    Dennis Elam

    That unrest has weakened the Euro, strengthened the Dollar and brought doubt about the very future of the EU.

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