October 1, 2010 issue
Beware of Greeks Bearing Bonds
By Michael Lewis
As Wall Street hangs on the question Will Greece default?, the author heads for riot-stricken Athens, and for the mysterious Vatopaidi monastery, which brought down the last government, laying bare the countrys economic insanity. But beyond a $1.2 trillion debt (roughly a quarter-million dollars for each working adult), there is a more frightening deficit. After systematically looting their own treasury, in a breathtaking binge of tax evasion, bribery, and creative accounting spurred on by Goldman Sachs, Greeks are sure of one thing: they cant trust their fellow Greeks.
Greek protesters to confront government on economy
NICHOLAS PAPHITIS, Associated Press Writer
THESSALONIKI, Greece (AP) Greek unions are planning protest marches in the northern city of Thessaloniki against the debt-plagued country's harsh austerity program, before Prime Minister George Papandreou's keynote speech on the economy Saturday.
A first taste of trouble came when an elderly man threw a shoe at Papandreou who had just inaugurated an annual trade fair. The projectile landed wide of its target, and police arrested the alleged shoe-thrower.