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Austerity Failing in Greece

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  • Description

    FBN’s Stuart Varney sounds off on the Greek economy and impact of austerity measures.

  • Duration 1:16
  • Date

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Susan now we keep hearing the would austerity when a country is forced into austerity what does it actually mean for the people not -- of leaks but the people on the streets the ordinary citizens.

Is my take on austerity in Greece.

According to the New York Times one quarter a great businesses have clothes.

Trouble small businesses meet their payroll amount -- one.

Many -- look at have not been paid in months unemployment about 20% rising fast private sector wages in many cases have been caught in.

Taxes way up this is -- this is an economy in deep correction.

We tend to report on Greece's debt and what about the Germans -- OK the latest bailout but I think human individual level it is a story of degradation.

And it raises this question.

How can -- shrinking economy possibly pay the money hoax and it.

-- all the great people continue to go along with the depression that their own policies -- about but which is now being imposed on them by opponents answer.

No they can't pay.

I know they won't stand for much longer.

If we get to the Greek situation.

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