Greece is expected to propose a revolutionary debt reduction budget exercise in the coming weeks in order to avoid becoming rated as junk country. And that is not going to happen easily, as hundreds and thousands of Greek took to the streets in a violent protest few days back.
And the government does not have the choice than to implement the plan, as it would not get any financial support from the EU and IMF without doing that. And implementing it could force Greece into social unrest issues which might go out of control anytime.
So nothing seems to be going right for Greece, and the entire European Union and even the global economy could be heading for trouble in the coming days.
Greece heading for big shakeout
February - 27 - 2010 - Saturday
