Unconfirmed talk of the EU,IMF, and ECB calling on the Greeks to shed 150,000 public sector jobs by 2015.
Greeks will be up in arms, but that was the reason the IMF was brought in in the first place. They force seemingly draconian measures but their track record is pretty decent when looked at with the benefit of hindsight.
Look how well the Asian Tigers are doing today after defaulting only a dozen or so years ago…
One important thing that the Tigers have that Greece does not is its own currencies and central banks…
Short-term pain but long-term gain…