Greece's new role as Europe's impoverished debt slaves has serious implications for archaeology and museums. In 2010, 10% of staff at the Ministry of Culture were laid off, followed by a 35% cut in wages in archaeological service in late 2011. A new hire now makes just €670 ($900) a month after taxes. On top of this, the parliament this week is proposing further cuts of 30-50% across the Ministry of Culture.
Following yesterday's frankly stunning news that the Troika politely requests that Greece hand over its first fiscal, then pretty much all other, sovereignty over to "Europe", here is the Greek response to this Troika foray into out... Read Post
Flurry of headlines following an unscheduled IMF release: IMF CUTS GLOBAL GROWTH ESTIMATE, SAYS EUROPE MAY WORSEN OUTLOOK IMF SAYS DOWNSIDE RISKS ARE GROWING IMF SAYS ECB SHOULD CUT INTEREST RATES IF DEBT TENSIONS PERSIST IMF CUTS U... Read Post