Spain unemployment now 5m (22.8%), Highest in industrialised world.

[Kasz216]

routsounmanman said:

Kasz216 said:

routsounmanman said:
Greece is ATM at 21% (official) and still rapidly rising. And if the new austerity measures (economy killers I say) come through today, woohoo, we'll be no.1

Dunno why you'd think that.  Most of the "austerity" measures that were voted on today weren't really austerity measures but liberalization of labor laws meant to decrease unemployment.

Reduction of minium wage sucks sure, but it will only decrease unemployment.

You think that's an austerity measure that raises unemployment... try not being able to pay anyones salary.

It's not just the minimum wage. Pension cuts, Supplement pension cuts (fourth time in 2011!), estates tax increase (3rd time in 2011), VAT increase, Cigarette tax increase, unemployment wage decrease, etc

Decreasing minimum wage by itself cannot lower unemployment. Greece has so few factories and producing capabilities, who will hire all those people, even at low wages? Mark my words, these "austerity measures" WILL kill what's left of the Greek economy...

Some people have had their income slashed by 40-50% already! Stores and services have had their income reduced more than 70% (myself included). Can someone please tell me why we Greeks have it so hard while Portugal and Ireland haven't had so heavy measures forced onto them?

It's like everyone holds a grudge on Greece for some reason...

Defaulting would not only kill what's left of the economy, it would salt the ground and slaughter all the female livestock.

 Why do the greeks have it so hard compared to Portgual and Ireland? 

Check Government Debt as a percentage of GDP.