Dec. 15 (Bloomberg) -- Greek unions grounded flights, kept ferries docked at ports and shut down public services today to protest wage cuts as the government sticks to conditions of an international bailout. The government made them believe they earned all the social programs they enjoyed. This is what happens when you have poor leadership in government. It is easy to give, give, and give to buy easy votes (e.g. GM). There is a point, however, that the bondholders want to be paid. And if the nation does not generate the revenues to pay the interest, chaos and discontent arise. This is what real bad politics is all about.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked second best gold timer by Timer Digest
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