Tuesday, June 21, 2011

Greek PM Survives No Confidence: We Still Aren't Out of the Woods Yet

So far so good. At least we won't get a Greek debt failure yet.

Lawmakers voted 155-143 for the motion, with two abstentions in the 300-member legislature, sticking strictly to party lines after a heated debate that saw sections of the opposition briefly walk out of the chamber.

Outside, several thousand protesters chanted "Thieves! thieves!" and other anti-austerity slogans, shining green laser lights at the parliament building and into the eyes of riot police protecting it.

I think the EU needs to boot Greece out of the Euro so that they could inflate away the problem with the New Drachma. Even then they would have deadly riots over cutting back the spending. Greece is the case in point when it comes to promising people more government then they could afford. You get people used to a certain way of living and when you have to pull back the money for that lifestyle they freak out and riot. 

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