Greek Fire, Part 23

What, you thought the problem had gone away?

All train services in Greece have been suspended after state railway employees launched a series of strikes against planned reforms.

The debt-laden country's railways are €10-billion ($14-billion) in the red, and the government has announced plans to cut benefits and move excess personnel to other public sector jobs.

A draft law expected to be approved in parliament on Tuesday will also allow the partial privatization of the rail operator and open the way for private passenger services.

The railway workers' union on Monday held a 24-hour strike, which will be repeated on Tuesday, Wednesday and Friday. Union officials have threatened to burn any privately operated trains that come into service.

Won't take long for investors to realize that Greece is going to go belly up and soon...along with Portugal, Ireland, and Spain.  And hey, the way the UK and France is going on its austerity hysteria and Germany on its increasing nationalism, pretty soon Russia will be the safe, stable European country of the bunch.

The EU crack-up rolls on (but not the Greek trains, apparently).