Saturday, February 04, 2012

"compete more effectively" is another way of saying "so desperate, they will do anything for almost nothing"

i don't get it:

1. how does the greek premier have any control over private wages? (unless they are just talking about lowering the minimum wage, which is discussed in the article. but it's not clear if that is all they mean, since it starts with that broader lede that implies a wider cut in private earnings)

2. wouldn't lower greek wages mean lower tax revenue for the state, which means it would make greek debt problems worse not better?

why does it seem like the solutions being imposed on greece are always more tailored towards impoverishing the country than solving any problems with its debt?