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February 13, 2012

"Counteracting declines" in the EU: Greece's austerity measures prompt some world markets gains. But...

We must show that Greeks, when they are called on to choose between the bad and the worst, choose the bad to avoid the worst.

--Greece Finance Minister Evangelos Venizelos

But will that do it? Yesterday in Athens, while being guarded by riot police, the Greek Parliament passed its austerity legislation for a nation edging toward fiscal collapse. The passage was tied to Greece's request for a second bailout for 130 billion-euro ($172 billion). See, via the San Francisco Chronicle at the consistently just-the-facts Bloomberg News, "Greek Parliament Passes Austerity Bill as Rioters Burn Buildings."

Above: Northern Ireland.

Posted by JD Hull at February 13, 2012 07:09 PM


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