Greece is not a rich country in Europe and it has a history of economic problem. Right now, the country’s economy is suffering mainly from the effects of economic recession. Many people in Greece are not happy and they think that it is not their fault. They are just suffering for the mistakes of richer European countries like England, Germany and France. However, Greece has its own problems and the main problem the country is suffering at the moment is public deficit or budget deficit. In simple words, the government is spending much more money then it is earning. In fact, budget deficit is now 12.7 % which is a dangerous figure.
What the Greek government needs to do is to decrease its spending and increase its revenue. It may sound very easy but the solution is very problematic. In order to decrease revenue, the government has to put tax on basic items like petrol and alcohol. On the other hand, in order to decrease government spending, the Greek government has to take away a lot of money from different projects. Also, it has to decrease support to government corporations and it should not increase salary of public sector employees.
You can easily understand that it will not become popular to the ordinary people. Many people understand that the government has no choice but to take some austerity measures. However, not everyone is happy and today, there is a twenty-four hour general strike. The bad part of the general strike is that the tourism sector is also under it. This is bad news because one of the major earning sources for the country is tourism.
Only Tough Times Ahead for Greece
