When and why did the Greek economy start to tank?
In: Economics
They had all sorts of clauses that meant they were spending more money than they brought in. You could retire at 50, and if you were in what was deemed to be a ‘specialist’ job – like hairdressing, for example – you got a fat pension.
They got bailed out by Germany at silly interest rates, spent it all again, got bailed out at higher interest rates, and now are tied down so hard that they’re basically a slave nation.
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