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Why Greece is slashing public sector jobs

Amid much protest in the streets, the Greek government last night passed a law firing thousands of public sector workers. Twenty five thousand public servants – mainly teachers and municipal police – will be placed in a layoff scheme by the end of 2013. They have eight months to find another position or get laid … Continue reading

Italy’s death industry is thriving

A survey of Italy’s economy tells a grim story. The country is now in its fourth recession since 2001. Manufacturing is in free fall. Fiat, the country’s  largest industrial company, closed one car plant last year. And CEO Sergio Marchionne is now threatening to shut others. Youth unemployment is at record highs of 36%. Yet … Continue reading

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