Greece now cutting its own throat

The conversations about the Greek debt load and deficit focus almost exclusively on programs to get the nation to cut costs in order to balance its budget. That leaves out the revenue and receipts part of the ledger.

The Greeks are in danger of making their financial situation much worse due to a series of strikes which seem to get larger by the day. According to the BBC, “Hundreds of thousands of Greeks are on strike to protest at the imposition of austerity measures to save the economy.” One of the effects of the labor stoppage is that Greece’s national transportation network is virtually shut down.