Beware of Greeks bearing debt

Greece holiday advice: If your thinking of booking a holiday to Greece and her Islands keep an eye on this situation..

Public sector workers in Greece have launched a nationwide strike in protest at government measures to tackle the country’s huge budget deficit.

For a county heavily reliant on tourism the state of the Greek finances is a cause for concern..

Flights have been grounded, many schools are closed and hospitals are operating an emergency-only service.

Plus you have to ask what idiot let Greece join the Euro – I t seems you should beware of Greeks bearing debt…

Greece’s deficit is, at 12.7%, more than four times higher than eurozone rules allow. Its debt is about 300bn euros ($419bn; £259bn).

The markets remain sceptical that Greece will be able to pay its debts and many investors believe the country will have to be bailed out.

The uncertainty has recently buffeted the euro and the problems have extended to Spain and Portugal, which are also struggling with their deficits.

The government wants to freeze pay, gather more taxes and reform pensions.

EU leaders will discuss the issue during a summit in Brussels on Thursday amid concern the Greek crisis could threaten the credibility of the euro.