Will Greece lightning strike here?‏

Today the supposed 'Socialist' led government of Greece will announce a ruthless package of cuts to public sector workers' pay and pensions as well as tax rises. The austerity measures were demanded by the EU and IMF as a condition of the €45bn loans made to enable Greece to finance its debts.

The Economist magazine is predicting that 100,000 Greek public sector jobs will be lost over the next 3 years: http://www.economist.com/displaystory.cfm?story_id=16009195

Right wing pundits are making the case for similar attacks on public sector employment in the UK: http://www.telegraph.co.uk/news/election-2010/7658102/General-Election-2010-Public-sector-pain-its-tougher-than-it-looks.html

The analysis of RMT leader Bob Crow - that Britain is heading towards an economic and social crisis similar to that unfolding in Greece - is spot on:

"Working people will be told to pay the price for the bankers' bail-out. The billions that we pumped into the banks have been creamed off, chewed up and spat back at us as public-sector cuts. When the British people realise that we are heading for a Greek-style meltdown they will be out on the streets in numbers and any politician who under estimates what's coming down the tracks is going to get the shock of their lives."
http://morningstaronline.co.uk/index.php/news/content/view/full/89826