The Greek government is not prepared to compromise on this
The government is trying to avert the troika demand for the gradual abolition of the three-year maturity raises and benefits such as the marriage benefit, counter-proposing a replacement of the three-year maturity raises with a previous service benefit or reduction of the rate of calculation of the three-year maturities.
This is from a government that is overspending 6 Euros a day for every man woman and child in the country.
Let me put that another way, the Greek government is not spending in total 6 Euros a day for every man, woman and child in the country. No. The Greek government is spending 6 Euros a day for every man, woman and child in the country more than what it takes it in taxes.
To put that in perspective, the Greek governments deficit ie the difference between how much it spends and how much it takes in is so bad that it is big enough to pay to get the entire country to school or work, every day of the month, including weekends!
I have said before and I will say it again, the Greek government is making a massive song and dance about cutting 12 billion Euros from their budget. They say how it is putting unrealistic pressure on the country, how the cuts are destroying the social fabric of Greece.
To demonstrate the nonsense of the Greek government’s resistance to cuts, a 12 billion Euro cut in spending will mean they have to adopt the same budget they had in 2007.
And yet the Greek government is implying that if it were forced to spend that same as it did in 2007 it would leave Greece without running water or the invention of the wheel.
Honestly, the Greek government have no hope of making Greece strong and independent. They need to cut 30 billion Euros a year from their budget and yet they cannot even cut 12 billion and even that 12 billion Euro in “cuts” is actually made up by tax increases which will only kick the can down the road.
For the IMF and the Troika to be giving money to such an oppressive regime shows their complete disregard for the health of the Greek nation and their complete disregard for the welfare of the Greek people.
The only way to fix the economy is to put those who are running it, out of business, this can only happen effectively with a default. Cut of their funding, stop enabling the people who are destroying the country.