greece

A Greek Tragedy

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The Greek financial crisis has been dominating the news for weeks, but could it ever happen here?

Greece is half a world away but there are troubling similarities. We are both deeply in debt. Both nations have debts that exceed 100% of annual economic output. That makes it tough for government to balance a budget. Both countries have government pension plans that cannot be sustained, instituted by politicians who made unaffordable pension promises to public sector employees for decades, in return for votes.  read more »

Cutting Back

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Cash strapped Greece is cutting back… on job perks.

After being bailed out twice by the Euro Zone and the International Monetary Fund Greece is looking to save some cash. And it’s coming out of the pocket of the private sector. The latest change includes scraping a bonus workers have enjoyed for more than two decades; six extra days of paid vacation every year just for using a computer. That idea went into effect in June of 1989 to reward people who had to sit in front of a screen for more than five hours a day. The country’s administrative reform minister says that idea is outdated.  read more »

Poolside Prison

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With your country on the brink of bankruptcy; it’s probably not a good time to pamper prisoners.

Recently Greece’s justice administration ordered the destruction of a 24 foot long pool at the country’s largest maximum security prison. And it wasn’t just any pool; it came complete with a waterfall and barbecue pits.

The pool’s existence at the jail was reported by a newspaper in Athens. Shortly after its existence went public the ministry said it had been built without permission and did not comply with the country’s health and safety standards. Greece’s prison association was quick to defend the pool saying the money to build it had been raised and its use was limited to staff and prisoners of the psychiatric wing.  read more »

Desperate Times

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It's no secret that times are tough and people are doing what they can to save their pennies or earn some extra money. Its survival of the fittest at its best and here are a couple examples of those fighting tooth and nail to hit the top of the food chain.

First up a tale of determination. In New York City a cow named Molly has earned herself a new lease on life after managing to escape from a slaughterhouse. New York police say the all black cow got away from Musa Hala Incorporated last week, a slaughterhouse where animals are butchered according to religious restrictions. Molly wandered about a mile before being captured by emergency services and sent to the cities animal care and control unit. Now city officials are looking at placing her at a farm sanctuary to live out her life.  read more »