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Thursday, April 29, 2010

Unions Oppose Cuts - Greek Headline Coming Your Way.

“We find ourselves before the most savage, unprovoked and unjust attack,” said Spyros Papaspyros, head of the ADEDY civil servants union, after meeting Papandreou in Athens today. “The answer will be given in the street.”

Measures may include a three-year wage freeze for public workers and cutting two of the 14 salary payments that they receive annually, the ADEDY union said.

Papandreou is stuck between investors, who want faster deficit cuts, and voters and unions, who are already chafing from existing austerity measures. Elected in October on pledges to raise wages for public workers, Papandreou has been forced to cut salaries, curb spending and raise taxes to reduce a deficit that was more than four times the EU’s limit last year.

Sound familiar?  We in the US may soon face similar measures.

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