Greek austerity is working! …at increasing unemployment.
Remember folks, Greek style austerity programs are a favorite solution to the financial troubles in America among conservatives. The problem is it doesn't work. Unfortunately for Greek citizens, they're having to find out the hard way:
Unemployment in Greece is going from bad to worse, as official figures released by the Hellenic Statistical Authority (ELSTAT) on Thursday showed a 44 percent increase in the number of jobless in this year’s second quarter compared to the same period in 2011.
The April-June rate stood at 23.6 percent, against 22.6 percent in the year’s first quarter and 16.3 percent in the second quarter of 2011.- International Herald Tribune