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Tuesday, February 28, 2012

Some Greek politicians bailing out of Greek banks



Austerity it seems is for Greek workers not for some of the politicians that are supposed to be representing them. Some Greek parliamentarians are bailing out of Greek banks.

No doubt they are looking for somewhere safer to keep their cash. A watchdog agency reported that one member had already transferred a million euros out of the country. Interesting that a politician has a million euros to move while the government votes to cut the minimum wage by twenty per cent.

Even Finance Minister Evangelos Venizelos reported in parliament that some parliamentarians had transferred sums in excess of 130,000 dollars out of the country. These actions will make the government and politicians subject to even more anger from the Greek populace.

Thomas Klau, from the European Council on Foreign relations said:"The political situation in Greece remains unstable with regard to the ability of this Greek government or future Greek governments to deliver on the assurances given the euro zone partners," Many analysts feel that Greece will default in spite of the bailouts it has received. The economy is set to continue contraction after austerity measures have been imposed. For more see this article.

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