Greek PM defends bailout deal

2012-02-12 07:43

Athens - In a televised address, Greece's prime minister has defended austerity measures that include painful wage and pension cuts but would ensure the country receives a €130bn ($171.6bn) bailout deal and stave off bankruptcy.

Lucas Papademos said the alternative is catastrophic bankruptcy, echoing comments made earlier on Saturday by the leaders of parties backing Greece's coalition government - socialist George Papandreou and conservative Antonis Samaras.

Papademos said "the deal will ensure our country's future inside the euro... A bankruptcy would lead to uncontrollable economic chaos and social explosion".

He added that under bankruptcy Greeks would lose their savings, the state would be unable to pay for salaries and pensions and there would be import shortages.

  • Demetrius.Syriopoulos - 2012-02-12 11:56

    What saddens me the most about all these reports is that all of them are written to create sensation and none of them have any of the basic facts in them. None make mention that our beautiful South Africa is following the steps of Hellas (Greece) to the T. No-one ever elaborates on their articles to tell the real truth. Everywhere in articles you see, the Greeks are tax evades, the Geeks are lazy, the Greeks don’t do this that and the other. The EU wants to and has imposed all these austerity measures to curb the expenditure of the state (intentionally written with a small “s”). I will just state a few issues here as I am hoping to have a much more complete article about this soon. The minimum wage will be cut by 22% from about 600 to about 450. the currency here is totally unimportant as you cannot compare by using the conversion into ZAR. No-one ever mentions that the politicians in Hellas earn about 9,000 per month and neither Troika, the EU, Germany nor France have requested salary cuts while the requested the cuts of the minimum wage

  • Demetrius.Syriopoulos - 2012-02-12 11:56

    No-one ever points to the independent statistics that show the opposite of the widely reported “truth” Germans call Hellenes lazy while Germans work 1,432 hours while Hellenes work 2,120 per year, or per week, 27 for Germans and 41 for Hellenes. from “at no 1 position of hardest working nations is Koreans. Greece and Italy are also near the top, at No.s 2 and 8, respectively” from Here is a basic comparison of some common products. 700g loaf of bread at LIDL (a German supermarket chain) 2.90 while the same load in Germany sells at 1.10 and in the UK at 0.75p skip washing powder 2Kg 10.30 while in Germany it sells for 5.90 colgate toothpaste 75g 2.95 in Hellas/Greece while 1.30 in Germany prices from online shopping websites a teacher in Germany earns about 2,500 while in Hellas it never exceeded 1,400 a chemist (person working in the Lab making the products) earns 3,500 in Germany and 1,500 in Hellas

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