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February 11, 2015


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Interesting idea. Certainly making exports cheaper as well as tourism more attractive would help Greece recover but when you have such a large part of the population working for the government when they become unemployed that means less spending power. Perhaps the best solution is scale back their social programs like free university tuition but keep welfare and unemployment benefits as is while instead of laying off a lot of civil servants just cut their wages and benefits. Last Ontario election before Hudak made his silly promise of firing 100,000 civil servants, I had suggested the civil service take a 10% pay cut which would have saved the same amount of money but they would have more disposable income than when laid off to contribute to the economy.

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