The presidential elections in France and the parliament elections in Greece results are still putting pressure on the single currency as they looked to the market like a referendum on the austerities measures like this which has been asked by the previous Greek PM George Papandreou which lead to his resignation last year after retreating back of doing it amid strong criticism from EU core funding countries of the Greek debt as it is obvious that the streets in the countries south of Europe which are suffering from debt crisis are against these measures.
These measures included cuts of the public sector wages and jobs and cuts of the governmental spending and in the same time increasing of the taxes to dampen the growth in the same time they cut the deficit of these debt ailing countries budgets.
- Published: 09 May 2012
- Written by Editor