Monday, June 4, 2012

Why the Greeks will vote to default


''(MoneyWatch) COMMENTARY In Greece the economic situation is driving an increasing number of people to take their own lives. While these are only a few cases, the rest of the population is also feeling some level of hopelessness. It is a feeling that, unfortunately, is entirely justified. That's why, when the next Greek election is held on June 17, an anti-bailout party is almost certain to win.
In the run-up to the last election it was big news when an elderly man killed himself and left a note blaming the financial crisis. Now it is routine. The English-language news site Ekathimerini has reported at least five suicides in the last month. The most recent was a 62-year-old man who died yesterday. Before the financial crisis first began, Greece had the lowest suicide rate in Europe -- 2.8 per 100,000 people. From 2009 to 2011 Greece's suicide rate increased 22 percent, according to a report by Attikon Hospital...

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