Greece Goes to Rehab

Like any solid junkie, Greece has hit rock bottom and agreed to rehab. In this real life edition of Intervention, Greeks won’t be sent off to sunny Florida or Arizona to get sober from their credit addiction. Instead, they will face rising taxes and reduced government spending.

The new laws will include:

• Pensions freezes
• Cuts in public sector pay
• A increase in sales tax from 19% to 21%
• Rises in taxes on fuel, cigarettes and alcohol
• Rises in taxes on luxury goods

The BBC’s Malcolm Brabant in Athens says “the package may have pleased Europe and financial markets, but they have infuriated the Greek trades unions and left-wing politicians.” Anger is the first stage of recovery. Next will be tolerance, then acceptance. Unlike Amy Winehouse, the Greeks are right on schedule.

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