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And truly devastating austerity cuts. under his leadership, pensions cut by 40%. 30,000 government workers laid off, taxes raised several times and gdp contracted to negative 7% in 2011. the unemployment rate rose to 17.7%. 40% for young people. an austerity regime so blunt and unpopular it ultimately brought down his government. joining me tonight, george pop pan dray you. thank you for joining us. there are many differences between the u.s. and greece i would like to talk about. >> and some similarities. >> and some similarities. i want to talk about the politics. you had to do this, the pol...

The unemployment rate rose to 17.7%. 40% for young people. an austerity regime so blunt and unpopular it ultimately brought down his government. joining me tonight, george pop pan dray you. thank you for joining us. there are many differences between the u.s. and greece i would like to talk about. >> and some similarities. >> and some similarities. i want to talk about the politics. you had to do this, the politics of being from the center left and having a coalition and base of support that wants things like pensions and higher wages and social spending and getting in power and having to turn...

17.7%. 40% for young people. an austerity regime so blunt and unpopular it ultimately brought down his government. joining me tonight, george pop pan dray you. thank you for joining us. there are many differences between the u.s. and greece i would like to talk about. >> and some similarities. >> and some similarities. i want to talk about the politics. you had to do this, the politics of being from the center left and having a coalition and base of support that wants things like pensions and higher wages and social spending and getting in power and having to turn around and implement cuts tha...

Decide in exchange for hundreds of billions of dollars in european loans, but his comments in the past few minutes very hard to decipher. i can tell you those budget cuts and austerity measures were very unpopular in greece but so was pa pan dray you's promise to put the matter up for referendum, very unpopular in germany and france. president obama said he hoped the europeans would resolve the crisis in the next couple days, though that seemed unlikely. his aides made clear they'd have to resolve it without contribution. the president also pushing for financial regulations aimed as avoiding a...