Well thank goodness “austerity” continues to work its magic.

Unemployment in Greece is going from bad to worse, as official figures released by the Hellenic Statistical Authority (ELSTAT) on Thursday showed a 44 percent increase in the number of jobless in this year’s second quarter compared to the same period in 2011.

Naturally, this requires more “austerity”!

The crisis engulfing Greece has deepened after two of the governing coalition parties resisted demands from Brussels for 50,000 public sector job cuts, and unions called a general strike for later this month.

Surely we need that same “budget-cutting” magic on these shores.