Tuesday, February 9, 2010

Aid to Greece May Take the Shape of Loan Gurantees

Germany is considering loan guarantees for Greece and other troubled European countries, WSJ is reporting.

We will just have to see if this flies with the people in Germany. This is really not much difference than co-signing a loan for a motorcycle for your reckless nephew. Since it is also likely to come with strings attached, the possibility of unrest in the PIIGS can not be ruled out.

Greek unions have threatened to intensify strikes in protest of already instituted the government wage and tax changes and Greek public sector workers plan a one-day stoppage on Wednesday.

Portugal's largest public administration workers union announced a one-day strike for March 4 over a planned wage freeze.

1 comment:

  1. spelling error alert in post title - 'guarantees'