How Much Austerity is Too Much? Greece Edition

Perhaps when you start paying to keep your job:

Salary cutbacks (called “unified payroll”) for contract workers at the public sector set to be finalized today. Cuts to be valid retroactively since november 2011. Expected result: Up to 64.000 people will work without salary this month, or even be asked to return money. Amongst them 21.000 teachers, 13.000 municipal employees and 30.000 civil servants.

This is a part of the tentative second debt deal for Greece. Now I don’t pretend to know as much as I could about Greece’s debt issues – nor even the Euro-Crisis in general – but surely at some point Euro authorities have to realize this arrangement of austerity is not sustainable.

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