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Wednesday, May 5, 2010

This Week in Poorly Thought-Out Currency Unions

Germany finally decided to bomb Greece with money to save the euro. But it will cost them:

On top of the wage freeze, public sector workers will lose their “13th and 14th month” salaries, paid at Christmas and Easter, and see further cuts in allowances.

Andreas Loverdos, social affairs minister, told the Financial Times that pensioners would also lose seasonal bonuses as part of an overhaul of the underfunded state pension system. The average retirement age would be raised from 53 at present to 67, he said.

So Greek public sector workers no longer get paid for "Smarch" and "Cocktober", and they have to work past 53. Quelle horreur! But in Greek.

You know what'll solve this? Setting banks on fire, obviously.

Also, someone slipped Brad, the photoshop guy at The Economist, the brown acid. (KEEP DOING THIS.)

1 comment:

Ron said...

Your simplistic assessment always keys me in to understanding what is going on. KF