Unions Paralyze Greece

The great fear undermining any bailout is that the Greek workers will simply suck the money the dry leaving the same fiscal disaster as before, these strikes in turn add gasoline to that fear:

ATHENS — Flights to and from Greece were grounded and public services paralyzed on Wednesday as workers across the country went on general strike to protest tough austerity measures aimed at staving off economic collapse.

The demonstrations were the first major protests since the Socialist government of Prime Minister George Papandreou unveiled belt-tightening changes on Sunday that amount to the biggest overhaul of the state in a generation.

The reforms, which aim to squeeze savings of 30 billion euros through 2012, include cuts to salaries in Greece’s sprawling public sector, higher taxes on alcohol and cigarettes, and tighter retirement rules. They are part of an effort to clear the way for a 110-billion euro rescue package aimed at preventing the debt-ridden country from defaulting.

The strikes on Wednesday shut hospitals, schools and tourism sights across the Greek capital, including the Acropolis, where several dozen protesters from the Communist Party broke the locks at the entrance to the monument on Tuesday and spread banners saying, “Peoples of Europe — Rise Up.”

Considering Obama's policy is to replicate the social-welfare states that have bankrupted Europe, one can start to get nervous about the fiscal future of this nation as well.