The protests in Greece are a sad reminder of the divide between public sentiment and fiscal policies around the world. Multiple banks and retailers were set ablaze after the Greek Parliament passed a vote posing further austerity on Greek people in a clearly Euro-zone guided agenda. This time the cuts will knock off 20 percent of the Greek minimum wage and lay off 15,000 government employees per the WSJ.
Past cuts have not led to the intended financial goals because the GDP keeps declining as people lose their jobs and the economy shrinks. In a weekend speech, the unelected prime-minister of Greece said the alternative of bankruptcy is worse. The images and news from the streets of Greece give pause for thinking twice on that, and the firing of dissenters within the Greek Parliament seems a tad un-democratic.
Image attribution: Athens Indymedia. CC BY-SA 2.0
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