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percent like to thank grown and grown
for inviting me

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and for giving me the opportunity to
speak to you

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this time not the bar the shears is that
there are

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they no school what I have been doing
for the last fifteen years the cheese

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gender equality on neither today and
going to Krogers

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on unemployment and I really

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pick-up in every 20 years you will see
now

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what that the previous speakers kid
smoking a bong

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only I really focused or bench time and
our discussion

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on they case increase click

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respectability become about background
I'm sure that your own

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taking I in the newspapers for

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few years now I'm tripping com workers
said happened eating

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Europe's five countries including Greece

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what they have in mind he's we can
release saying

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or two girl Ireland and

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grease so I'm let me let me begin

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arm we okay re just

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peace lines that really some I'm there

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and did you what happened in Greece and
I wouldn't it would be you some

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background on before we begin

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repay use Eventbrite how to handle and
government today

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increase so at the end 0

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5 2009 beginning all 2010

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Greece finds itself in a situation where
they

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56 and bi-annual difference between

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great thanks that they're collecting the
taxes are collected and the amount the

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government spends was

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exactly

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a sixty-percent and the day accumulate
you did was come into the crowd

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percentage would be and got who's
invited a scan actually

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over it CP that or countries that belong
to the puter zone

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that they're using day you know com pick
to sign on in order to become members of

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the euro zone

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and being in my arms see pp that they
signed when they

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become members over the euro zone's says
that

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they day cannot exceed sixty percent of
GDP

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and their i'm yearning their deficit
cannot be more than 3 percent

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okay to be I'll so preschoolers

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clearly and buy an external drive from

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but I wanna ask the company's and new
carpet

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the I rose that they had him as you see

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big gap between the red and blue lines
the red line being total expenditures

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and add the 29 a gripping you I'm

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is there but it is quite small be for
the conference center and the last

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quarter

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Richies when their subprime mortgage

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crisis erupts in the United States and
starts

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scathing sound throughout the world
northeast that between 2007 and up 2007

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and 2000 a there is a gap between the
two

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got of course he's home difficult
process and put a long time

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but then 160 2009

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think that he had eight they definitely
increase total expenditures do not

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change much today

55
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they've done does not change much
because the blue line

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that goes beyond what does that mean
that means you have a

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economy that is in the section you have
an environment for businesses

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writing this because the crises and
therefore there is this

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didn't

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that the government has big gap between
spending and revenue decreases

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it is in these circumstances in 2009

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got Greece is not able

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cool certainly speaks it it

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has a because the the rolling over

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obligations that they had good on and
their

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for that government that was elected
back pain 2009

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arm sorry about that in 2009

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are decided that exactly loans the way
to be taken out and getting paid by the

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troika

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that these days you know bien Commission
the European Central Bank and a and

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their

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now I am at pretty sure that you all
know

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their Latin America way

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school plenty of similar financial
trouble

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in the eighties and big head to also be
rescued

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through these and I could use on all

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funds that they would be saving and they
had to sign

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memoranda all agreements in order to
receive

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these loans and that point 8 p.m.
background

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exactly the same idea was applied in

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grace but in other countries as well the
thinking is that

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if you're borrowing the primary concern
if the borrower

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is to ensure that you're going to be
able to pay back

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and in order to pay back some
supervisory board

85
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is going to make sure that your micro
economic policies and the way the truth

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and the economy he said

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that love accept less

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meaning you will be collecting more
taxes than work is spending

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you know to be able to make payments but
if we think about it for a minute

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you can accomplish this through two
different ways

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one easy economy grows prior and the
like

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then your revenue really be plenty

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and you again spend for your local needs
and have something left over

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to make payments your debtors the etrade

95
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to do it is to slash spending

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government spending you may be receiving
this AM

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revenue now you don't spend it and
basically

98
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what you do I you reduce spending on
health education transportation

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00:06:13,260 --> 00:06:16,750
you'll find here your public

100
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severance literally you did use their
ages by how much

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go percent 15 percent and 20 percent
pensions

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you stop paying pensions you refuse
pensions by

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34 percent and at the same time

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p57 you ongoing and that

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with the primary sectors with the
surface that will allow you to make

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payments but in the meantime

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you may have killed of the economy and
its people and this is exactly what is

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happening in Greece and this is what I'm
trying here on the 3rd Graf

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on the 2nd Graf here where you see

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government spending disposable income
and consumption expenditures

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the learning or won't be needed if they
don't

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essentially com since 2010 and picking

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2010 because this is where I'm we sign

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that first bailout package so Greece has
now

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borrow $250 billion

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know that too be able to roll over it's
there

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and essentially or what they described
which are there

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austerity measures and based on the AVR
that payment center there

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God to the degree that you are

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cutting down the sink in the government
sector less and less government spending

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we're I love you to reach have to say

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for the fun of course this is company

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nonsense and one of the things that
happen

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me is that I have see think they see it
2008

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unemployed people in Greece where

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room the unemployed in places where

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downdraft 370,000 2010 their

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on their doing this second here the
crisis in Greece

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before the AM at and alone scummy

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and we have 640 that there are but

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fast-forwarding and give it two and a
half more years

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this is where the speaker comes from and
you now have 1.3 million people

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online this is a small country 10
million people

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the n really meant that you were talking
about earlier

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to the appropriation on acro

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need 2008 let's say worth roughly six
percent

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today this forty percent and we 40
percent

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employment vicious repair unemployment

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that his cheeks 27

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can be going to 28 percent justifiably

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this thought that might be the
babysitter com where they have here

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is to grass that that comparing the
Greek situation with the Great

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Depression the United States

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com the craft's comment from it paper

145
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aren't prepared mind by my to call it
that they leave Institute

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and the blue line represents

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Greece and you can see that bone the
lead hand side

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graph that shows added be gross national

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product he's declining

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and is the plan and get the clanging
four years into their

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Great Depression in the United States
you have it there around

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nothing grace see going down and when
you look at the unemployment

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situation saving the

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Blackline here so the United States the
resistor

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around in terms of unemployment lot
going

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our best 25 percent and coming down

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increase as I have shown you already it
has being

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or Olympics crosscut 35 percent it now
closer to 28 percent

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and rising

160
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so whether they should not increase it
when we look at

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unemployment the basic issue is that we
continue

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to hair we continued to head

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a our said all 40s

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the aesthetic that there was describing
before

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this reading of the government decline

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ways no smaller and I will sorry

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harm the used rangy trying to become
more competitive in export more

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that are simply not working there
shading the economy

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but they are not the getting us outdoor
the sex

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now in Greece is in a bit could hear
situation

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the United States is in a very different
and they did

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exist under very different circumstances
because you have an autonomous KNC

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and for those who have you that of have
been participating

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in the day is sending out with him on
Monday beauty

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you would be immediately recognize what
that means

176
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Greece does not have it carries

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ovitz home cannot be shipped goods your

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bar all they you know and that means for
example you can I think I'm here only

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this face

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you cannot get up eat mine you cannot

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issue bonds yourself you have to care

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permission and if the position is not be
then you cannot

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so saying then my

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my stick 50 as you 24 also take subway
BRB

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cool head expansionary fiscal policy

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so during a session on instead of the
government being

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there I 3 able to spend more

188
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in order to make up for this thinking
that they took place in the private

189
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sector

190
00:11:51,900 --> 00:11:56,320
you cannot do that either so you don't
have fiscal plans you don't want to say

191
00:11:56,320 --> 00:11:58,370
but if you don't have it saved it for
you

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so what do you have 100 any policy
instruments there were a lot of

193
00:12:02,990 --> 00:12:07,850
up folks have talked about today
incomplete this phone

194
00:12:07,850 --> 00:12:13,440
p I picked our all they European Union
and how these needs to change I don't

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think I'll

196
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warm or cool of the European Union and

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if that is not the greatest we're gonna
go anywhere you know

198
00:12:21,589 --> 00:12:25,500
there is no employment target

199
00:12:25,500 --> 00:12:28,950
for any of the country's you know the
word

200
00:12:28,950 --> 00:12:32,500
this excess or crazy here all the
country

201
00:12:32,500 --> 00:12:37,250
and what countries signed on 30 games to
where they hit people

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your Park CW and he was spending

203
00:12:40,720 --> 00:12:44,040
under control he does not ask

204
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on or whether the economy is growing

205
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increasing creating decent jobs so

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the orientation on that even didn't
fully

207
00:12:53,870 --> 00:12:57,470
you know this magnificent a benefit for
those that like that this is it good

208
00:12:57,470 --> 00:12:58,089
landed

209
00:12:58,089 --> 00:13:03,730
where it is likely not there or not to
have quantitative easing up by the

210
00:13:03,730 --> 00:13:06,200
thinking easing in terms of employment

211
00:13:06,200 --> 00:13:10,890
back took place of birth but at least
you have to send the data center banks a

212
00:13:10,890 --> 00:13:15,450
we will continue this policy and being
unemployment rates come down 5 percent

213
00:13:15,450 --> 00:13:18,680
in Europe there is no policy

214
00:13:18,680 --> 00:13:23,480
essentially around and going but what do
we have in Europe

215
00:13:23,480 --> 00:13:27,410
what we have in Europe is and undegraded

216
00:13:27,410 --> 00:13:31,380
active labor market said appoints are

217
00:13:31,380 --> 00:13:36,130
what they mean by anti prom

218
00:13:36,130 --> 00:13:39,110
Bob spoke about handed area

219
00:13:39,110 --> 00:13:42,680
if you beat me in we APR

220
00:13:42,680 --> 00:13:46,079
got when do you have any learn there is
something wrong

221
00:13:46,079 --> 00:13:49,560
with that person that these and run many

222
00:13:49,560 --> 00:13:54,070
the president's applying made by the 5k
contact with everything

223
00:13:54,070 --> 00:13:57,350
education and that he thinks so

224
00:13:57,350 --> 00:14:02,010
cuz the fight poverty educate them if
you educate them

225
00:14:02,010 --> 00:14:06,120
they have good skills to bed getting the
market today

226
00:14:06,120 --> 00:14:12,079
the right way he said they get employed
Bernard professor that it or read that

227
00:14:12,079 --> 00:14:15,680
ain't necessarily so and

228
00:14:15,680 --> 00:14:18,930
I love love you made the comparisons
between

229
00:14:18,930 --> 00:14:23,430
white folks and got the folks when it
comes to different levels over education

230
00:14:23,430 --> 00:14:23,980
because

231
00:14:23,980 --> 00:14:26,990
I remember teaching gender all

232
00:14:26,990 --> 00:14:31,199
you get exactly the same picture up
until the late 90's then something's

233
00:14:31,199 --> 00:14:34,860
teams huge huge gaps that that
inexplicable

234
00:14:34,860 --> 00:14:40,870
back pain prism so if they suck yoba boy

235
00:14:40,870 --> 00:14:45,329
these problems I think what you do you
have to pay

236
00:14:45,329 --> 00:14:48,899
you have to think they did you and you
don't have to pick up my pic you don't

237
00:14:48,899 --> 00:14:49,779
have to fix

238
00:14:49,779 --> 00:14:52,970
the labor markets you don't have to
think about

239
00:14:52,970 --> 00:14:57,730
whether it be man he said patient to cry
everybody'd your feet say about

240
00:14:57,730 --> 00:15:00,940
and who are wrongly labour s

241
00:15:00,940 --> 00:15:04,269
was most vulnerable in the opinion

242
00:15:04,269 --> 00:15:07,779
all the europeans the most vulnerable
the you

243
00:15:07,779 --> 00:15:11,190
they don't care any

244
00:15:11,190 --> 00:15:15,839
experience maybe they have the same
level of education

245
00:15:15,839 --> 00:15:20,920
but if it is any no I meant we have to
help them

246
00:15:20,920 --> 00:15:24,750
become and purely a bomb and

247
00:15:24,750 --> 00:15:27,760
be there educate them a little bit more
or

248
00:15:27,760 --> 00:15:30,670
we had through I love them

249
00:15:30,670 --> 00:15:35,410
given first tends to the company so that
government

250
00:15:35,410 --> 00:15:39,509
for you see in Sweden you feel and

251
00:15:39,509 --> 00:15:42,990
in Germany you never see them countries
in Europe

252
00:15:42,990 --> 00:15:46,540
has been focusing on two things when
they speak

253
00:15:46,540 --> 00:15:49,600
about hand I'm

254
00:15:49,600 --> 00:15:53,740
one these increasing and create be

255
00:15:53,740 --> 00:15:57,579
the other is increasing the ability to
be an entertainer

256
00:15:57,579 --> 00:16:01,259
anything wrong with that no

257
00:16:01,259 --> 00:16:05,410
he doesn't line though some people
absolutely this is this story for

258
00:16:05,410 --> 00:16:06,930
excitement to the bookmaker

259
00:16:06,930 --> 00:16:12,709
but not for everybody and there are
other issues that pic to do

260
00:16:12,709 --> 00:16:16,279
wreath demand for labour so

261
00:16:16,279 --> 00:16:20,160
in a situation like the one we are
facing

262
00:16:20,160 --> 00:16:23,259
now movies and what they had here

263
00:16:23,259 --> 00:16:27,180
is com be any live in great see if you
can look

264
00:16:27,180 --> 00:16:32,540
I the first column this is 2008 and the
next column

265
00:16:32,540 --> 00:16:35,790
shows you the and Gromit

266
00:16:35,790 --> 00:16:38,999
then second quarter of 2013

267
00:16:38,999 --> 00:16:42,860
work you will observe actually if you
work to

268
00:16:42,860 --> 00:16:46,360
look at all of these on rates

269
00:16:46,360 --> 00:16:51,129
he's got every city country except for
German

270
00:16:51,129 --> 00:16:54,300
Casey their employment increase

271
00:16:54,300 --> 00:16:57,379
including of course you have that fire

272
00:16:57,379 --> 00:17:00,490
countries that time that lady cokie

273
00:17:00,490 --> 00:17:03,809
com Highland Greece Spain and so on

274
00:17:03,809 --> 00:17:07,230
but what is important in Arby's

275
00:17:07,230 --> 00:17:11,669
is that that countries such as Bulgaria
on

276
00:17:11,669 --> 00:17:16,209
let me I'm that in Paris all their
finances

277
00:17:16,209 --> 00:17:20,470
any there for their ability to pay that
there had a didn't find that ticket

278
00:17:20,470 --> 00:17:21,569
services

279
00:17:21,569 --> 00:17:26,010
beef is not protected them prominent
black and white because

280
00:17:26,010 --> 00:17:29,330
day reason you got any crime and wars

281
00:17:29,330 --> 00:17:34,340
that your head markets eugenia shaping
and demand globally

282
00:17:34,340 --> 00:17:40,260
global growth rate suppose time why
would have a problem with the men

283
00:17:40,260 --> 00:17:44,480
and you get and unemployment ok 27
percent

284
00:17:44,480 --> 00:17:48,110
increase because a black up demand for
labour

285
00:17:48,110 --> 00:17:51,250
there anything that is being offered is
and maybe

286
00:17:51,250 --> 00:17:54,520
so what do they do they didn't give
stipends

287
00:17:54,520 --> 00:17:58,020
all the equivalent in the grass will be
two hundred dollars

288
00:17:58,020 --> 00:18:01,030
and I'm for someone to go through a

289
00:18:01,030 --> 00:18:05,570
training school per month ago and there
are

290
00:18:05,570 --> 00:18:09,070
start these after studies that pixel
that

291
00:18:09,070 --> 00:18:14,900
the and period be getting better at home
you get employed by the progress

292
00:18:14,900 --> 00:18:20,380
once the program ends nothing doing
forward about

293
00:18:20,380 --> 00:18:24,710
unemployment I'm not sure what this is
okay

294
00:18:24,710 --> 00:18:28,420
one word about on youth unemployment

295
00:18:28,420 --> 00:18:31,840
and then I we pay the next three minutes

296
00:18:31,840 --> 00:18:35,670
food company what we're doing grace I am
be careful

297
00:18:35,670 --> 00:18:39,110
and I it I'm addressing both my
colleagues fearing their room and

298
00:18:39,110 --> 00:18:42,290
everybody else youth unemployment is
very high

299
00:18:42,290 --> 00:18:46,840
are increase as was mentioned actually
today 6 percent

300
00:18:46,840 --> 00:18:50,460
so here you have to use any blanket get
credit for

301
00:18:50,460 --> 00:18:53,740
you know I love this country is a red
line you can clearly see

302
00:18:53,740 --> 00:18:56,880
and climb in rates are much higher
better

303
00:18:56,880 --> 00:19:01,420
I think I'm for the race for the
population aged 55 to 64

304
00:19:01,420 --> 00:19:08,420
but see what happens if a look at the
National ratio

305
00:19:08,789 --> 00:19:12,000
ok this is an employment share

306
00:19:12,000 --> 00:19:16,740
by age saying Greece a hair today at one
point one point

307
00:19:16,740 --> 00:19:20,429
3 1.3 mi n people and employed

308
00:19:20,429 --> 00:19:24,700
and what I'm asking here it is how many
among them I yearn

309
00:19:24,700 --> 00:19:29,130
what is this shared anything like
increase is 170 thousand

310
00:19:29,130 --> 00:19:33,230
proper one going 3 medium people

311
00:19:33,230 --> 00:19:38,059
but rather than 73,000 that I down do
they not face a problem

312
00:19:38,059 --> 00:19:42,889
absolutely yes but here is the hypocrisy
in the last year we had

313
00:19:42,889 --> 00:19:46,639
five meetings in europe for me there's

314
00:19:46,639 --> 00:19:50,169
to see how they would respond to an end
run into you know they know they talked

315
00:19:50,169 --> 00:19:51,980
about most use any run

316
00:19:51,980 --> 00:19:55,440
and they came up with bit different
budgets

317
00:19:55,440 --> 00:19:59,909
to support projects that but I was
talking about but we had received

318
00:19:59,909 --> 00:20:02,700
resending plan for 100 and 70,000

319
00:20:02,700 --> 00:20:06,519
and they believe 1,000,000 people
without

320
00:20:06,519 --> 00:20:10,870
any response essentially so there is
another kind of record

321
00:20:10,870 --> 00:20:14,279
there with you then line and that they
think we have to be

322
00:20:14,279 --> 00:20:17,690
mine no okay so now

323
00:20:17,690 --> 00:20:22,370
I have two more very fast and can you

324
00:20:22,370 --> 00:20:26,559
I hope you will ask me some questions so
I we

325
00:20:26,559 --> 00:20:29,950
whet your appetite about.com this

326
00:20:29,950 --> 00:20:34,139
that about what I want to talk you in
the next day

327
00:20:34,139 --> 00:20:38,409
saying that this over there estimates
that they had I

328
00:20:38,409 --> 00:20:42,210
okay out that you're going to see this
famous

329
00:20:42,210 --> 00:20:45,919
for one person for many

330
00:20:45,919 --> 00:20:49,620
people that came have been Business
College love them was called means

331
00:20:49,620 --> 00:20:55,450
payments he spoke about financial
fragility and that's where the means the

332
00:20:55,450 --> 00:20:56,049
moment

333
00:20:56,049 --> 00:20:59,289
comes from that you have on seen and
heard on

334
00:20:59,289 --> 00:21:02,980
but he also spoke about the employer of
last resort

335
00:21:02,980 --> 00:21:06,580
policy which is this that is a sham
policy

336
00:21:06,580 --> 00:21:10,679
got we heard about before getting my
text advertiser

337
00:21:10,679 --> 00:21:14,870
it is called it doesn't guarantee an
Employment Guarantee

338
00:21:14,870 --> 00:21:15,330
and

339
00:21:15,330 --> 00:21:19,010
and I and they thankfully again to my
colleague

340
00:21:19,010 --> 00:21:23,880
on professor baby it because he
explained very much like the days

341
00:21:23,880 --> 00:21:27,740
what I want to do in the next one minute

342
00:21:27,740 --> 00:21:31,050
I guess the pet hair is to

343
00:21:31,050 --> 00:21:36,230
tell you that in 2010 the libyans the
cute spoke

344
00:21:36,230 --> 00:21:39,350
with look at Teddy who was the Minister

345
00:21:39,350 --> 00:21:43,640
of you remembered about all who was a
minister old labor at the time

346
00:21:43,640 --> 00:21:48,220
and they had not signed any agreements
anymore and that but we were in a

347
00:21:48,220 --> 00:21:48,840
recession

348
00:21:48,840 --> 00:21:53,110
so we spoke to look good together with
the trade unions because you need these

349
00:21:53,110 --> 00:21:54,320
kinds of agreements

350
00:21:54,320 --> 00:22:00,220
an agreement was reached in 2010 before
the signing of the memorandum that an

351
00:22:00,220 --> 00:22:02,300
Employment Guarantee programme was name

352
00:22:02,300 --> 00:22:06,700
and she said we don't have a lot of
money but what we have left over for the

353
00:22:06,700 --> 00:22:07,540
year

354
00:22:07,540 --> 00:22:11,050
we we start the program with 50,000
55,000

355
00:22:11,050 --> 00:22:15,570
and they said and in terms of the design

356
00:22:15,570 --> 00:22:18,780
and how do you do that property all

357
00:22:18,780 --> 00:22:23,470
some of us including myself back at work
in South Africa and Mexico

358
00:22:23,470 --> 00:22:26,770
in India the problems that actually

359
00:22:26,770 --> 00:22:30,130
home way talked about earlier we
mentioned at least

360
00:22:30,130 --> 00:22:33,670
earlier and we headed to the XPS anyway
we started this

361
00:22:33,670 --> 00:22:38,450
then what happens is austerity measures
and then bailouts coming

362
00:22:38,450 --> 00:22:43,310
they devastate the economy they didn't
state of course labor market convey

363
00:22:43,310 --> 00:22:46,910
1b you with a fifty thousand here so

364
00:22:46,910 --> 00:22:50,190
we have said of course

365
00:22:50,190 --> 00:22:53,340
that one the estate because the stock

366
00:22:53,340 --> 00:22:56,660
secondly en masse see

367
00:22:56,660 --> 00:23:00,370
kind all eighty investment in the
construction plan

368
00:23:00,370 --> 00:23:04,470
as the setting increase otherwise we're
not getting out of this situation

369
00:23:04,470 --> 00:23:07,120
your hair suicides

370
00:23:07,120 --> 00:23:10,630
you have homelessness to the phenomena
that we never imagined we're going to

371
00:23:10,630 --> 00:23:11,070
see

372
00:23:11,070 --> 00:23:14,520
are no water no sanitation no heat

373
00:23:14,520 --> 00:23:17,630
Nikkei I am and

374
00:23:17,630 --> 00:23:23,490
they are now looking in 20 the
opportunity that may exist that we're

375
00:23:23,490 --> 00:23:25,170
going to change the government

376
00:23:25,170 --> 00:23:30,360
I'm sending that this Government will
poll because they keep insisting on the

377
00:23:30,360 --> 00:23:31,500
same policies and that

378
00:23:31,500 --> 00:23:35,490
a new more and like 10 a progressive
government with

379
00:23:35,490 --> 00:23:39,910
arm it they call them work we have done

380
00:23:39,910 --> 00:23:43,200
here therefore as we are conversation we

381
00:23:43,200 --> 00:23:46,970
various om home

382
00:23:46,970 --> 00:23:51,340
constituencies in place is the week have
created

383
00:23:51,340 --> 00:23:55,670
a program for 250,000

384
00:23:55,670 --> 00:23:58,820
or 515

385
00:23:58,820 --> 00:24:02,670
thousand jobs we care course the big

386
00:24:02,670 --> 00:24:07,520
way sixty percent all the cost goes for
wages

387
00:24:07,520 --> 00:24:12,370
forty percent goes for any station and
materials because their projects that

388
00:24:12,370 --> 00:24:13,650
are waiting to be done

389
00:24:13,650 --> 00:24:16,720
along the lines that he heard already
but

390
00:24:16,720 --> 00:24:20,200
including in the case of Greece and
vital mentor

391
00:24:20,200 --> 00:24:23,750
local environmental at work that these

392
00:24:23,750 --> 00:24:27,809
home waiting and work you have improved
review

393
00:24:27,809 --> 00:24:31,580
is then macroeconomic implications

394
00:24:31,580 --> 00:24:35,429
upset program so let me just look at one
sec

395
00:24:35,429 --> 00:24:39,230
you could pay it wait till 586

396
00:24:39,230 --> 00:24:43,380
you toast per month and you cryin

397
00:24:43,380 --> 00:24:49,309
record meet new people 550,000 people
because the multiplier effects

398
00:24:49,309 --> 00:24:52,590
you we generate more jobs in the economy
so they

399
00:24:52,590 --> 00:24:55,670
got their number of jobs that the one
candidate got pleeease

400
00:24:55,670 --> 00:24:57,549
700,000

401
00:24:57,549 --> 00:25:02,259
good thing he course and not unit 67

402
00:25:02,259 --> 00:25:05,519
billion mind you $7 billion-a-year

403
00:25:05,519 --> 00:25:09,190
is work with a right now for he Curtis

404
00:25:09,190 --> 00:25:12,549
payments army do that day

405
00:25:12,549 --> 00:25:16,119
that belongs to 35 this other countries

406
00:25:16,119 --> 00:25:19,350
essentially Sabrina moratorium or just
three

407
00:25:19,350 --> 00:25:22,730
yes we don't make payments would just
two years

408
00:25:22,730 --> 00:25:26,019
and we during the summer but money to a

409
00:25:26,019 --> 00:25:29,440
job-creation program we could solve so

410
00:25:29,440 --> 00:25:32,609
many many problems in Greece so

411
00:25:32,609 --> 00:25:36,019
who things out own or because he's

412
00:25:36,019 --> 00:25:39,559
7.1 BDN corners you know

413
00:25:39,559 --> 00:25:43,129
art day practically everything that we
did a

414
00:25:43,129 --> 00:25:46,299
you end up with the course ok CBN

415
00:25:46,299 --> 00:25:52,149
bandwidth CDN year you can support full
time jobs

416
00:25:52,149 --> 00:25:55,539
for 700,000 many you've got handgun

417
00:25:55,539 --> 00:25:58,710
impact these therefore becomes

418
00:25:58,710 --> 00:26:02,049
and ASAP they any good

419
00:26:02,049 --> 00:26:06,019
you i'm talking about. is and Employment
Guarantee programme

420
00:26:06,019 --> 00:26:09,999
serving precisely their goal

421
00:26:09,999 --> 00:26:13,840
all this had been a great importance in
expansionary fiscal policy

422
00:26:13,840 --> 00:26:18,080
for me instead of investing container
and waking

423
00:26:18,080 --> 00:26:21,869
aren't here the jobs get created you go
the other way round

424
00:26:21,869 --> 00:26:25,379
you target you're spending your public
spending

425
00:26:25,379 --> 00:26:29,859
directly on job creation the last say
that I'm not gonna go through

426
00:26:29,859 --> 00:26:33,100
because I just did everybody stations by
now I

427
00:26:33,100 --> 00:26:37,739
describes for the case increase where
would the money come from which is

428
00:26:37,739 --> 00:26:38,489
always a question

429
00:26:38,489 --> 00:26:41,690
where will the money come from we can
find the money actually

430
00:26:41,690 --> 00:26:45,809
week don't having to have not gone get
the political will

431
00:26:45,809 --> 00:26:49,399
and back to school for peace for the
United States

432
00:26:49,399 --> 00:26:52,779
and they cool beans that eventually we
will

433
00:26:52,779 --> 00:26:56,100
be able to be open and international

434
00:26:56,100 --> 00:27:02,480
I'm that Khamis to changing in fact
constitutional rights

435
00:27:02,480 --> 00:27:05,860
the way they did in India because that's
what they didn't get

436
00:27:05,860 --> 00:27:10,880
they amended the constitution and the
right to work movement that took 10

437
00:27:10,880 --> 00:27:11,460
years

438
00:27:11,460 --> 00:27:14,809
to take root by now guarantees

439
00:27:14,809 --> 00:27:19,260
employment not sweet I'm not whatever
but for front-month

440
00:27:19,260 --> 00:27:24,179
every year in router areas braid your
hair seasonal and fun

441
00:27:24,179 --> 00:27:28,030
and now your hand more art than

442
00:27:28,030 --> 00:27:32,440
one-third all the population
participating year after year

443
00:27:32,440 --> 00:27:36,309
if you get can do it please do not come
to the united states cannot

444
00:27:36,309 --> 00:27:37,909
thank you you