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Borg: Greece should follow the Baltic example

Economy | 2011-05-29 | 3 comments



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Finance Minister Anders Borg says to the German newspaper Die Welt that Greece "must swallow the medicine we recommend them". Borg argues that Greece only chance to manage its debt crisis is through strong budget cuts. He points to the Baltic countries' crisis management as good examples and says that it is only through a budget surplus that Greece can expect help in restructuring the EU emergency loans or other exceptions. Borg especially points at the Greek pension system as a target for reform. (Die Welt)

Readers' comments

2011-06-01 12:47 Randy wrote:
The Eurozone is just a bad idea. Greece is being punished by EEU members in a manner foreign to their history. Dissolve the Eurozone and allow countries to regain sovereign monetization.
2011-05-31 13:19 Other wrote:
I strongly disagree with "a Greek" comment. Look it up online. Greek pensions are, compared to the average income of the country, one of the best in Europe, let alone the average retirement age...
2011-05-29 15:01 a Greek wrote:
"the Greek pension system as a target for reform". Of course it should be. Most of the Greek pensioners live with 400 euros per month!


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