Once upon a timeSubmitted by admin on Thu, 09/08/2011 - 19:58
Once upon a time there was a small country called 'Greece'.
The people of Greece were overjoyed when their country was selected to host a massive International sporting event - The Olympics - even though their country was the smallest to host the games in recent history.
The right wing Government at the time of the Olympics borrowed heavily, keeping their comparatively generous welfare state afloat and gambling on the hopes that the Olympics would usher in a huge economic boost from increased tourism.
Unfortunately, due in part to a major unanticipated disaster (the 9/11 attacks) the revenue generated by the Olympics was far lower than originally anticipated. The hoped for economic boost never came, and following a global recession the Greek people have wrestled with crippling debt and austerity measures ever since.
Once upon a time there was a small country called 'New Zealand'.
... Okay, I think you know how this one ends.