Greece Cuts Spending

Greece approves severe spending cuts, tax hikes

http://www.philstar.com/Article.aspx?articleId=701374&publicationSubCategoryId=66

http://www.tradingeconomics.com/philippines/unemployment-rate

The news article is entitled “Greece approves severe spending cuts, tax hikes” read from Philstar July 1, 2011 issue in the business section. Greece parliament has voted in favor of the austerity measures that is said to have fended off a bankruptcy that threatened to roil global financial markets. The package would keep bailout money flowing to Greece from the rest of the world without which, they will be at risk of default and threatened the viability of the euro and much worse. But an analyst quoted “They are not out of the water just yet” as more protests could undermine the government’s ability to implement the harsh austerity measures, which tax even the the lowest-paid Greeks and raise prices during a recession. I think it is better for Greece to sacrifice a little more by means of the increase in tax and commodity price than suffer a great collapse in their economy that will surely be a larger trouble for them.

It is understandable for people to react the way they do, they have the right to be angry at the way their government is handling the situation and the extra burden on their part but at the end of the day, blaming the government and causing havoc on the streets does not bring a solution instead will just deepen their woes. As Pres. Kennedy said, “Ask not what your country can do for you but ask what you can do for your country”. This means they have to take a proactive stand, being aware of the situation and angry about it is good, however they should let this emotion drive them to take action or initiative to help and not to cause more problems.

As one of the quote I heard says “For things to change for you, you have to change”, this simply means, the reason for my problem is probably me and not my company or the government and if I would just...