If you haven’t seen any footage of the rioting in Greece right now, you might want to check it out. The Greek parliament has been voting on austerity measures to stave off financial ruin, and the Greek public hasn’t liked it.
Thousands of protestors have clogged the square in front of the parliament building, throwing rocks and bits of concrete and whatever else they can grab.
Many have said they went there in peace but that the Greek police have been heavy-handed with their control measures. Without being there too, it’s hard to know for certain.
But in the videos you can see hundreds of protestors throwing projectiles, plumes of tear gas from the police everywhere and even police throwing rocks back at the protestors. It’s an ugly scene.
According to CNN, Greece received a bailout of $145 billion 18 months ago and is in need of another bailout, possibly as much as $170 billion. Contingent upon the Greek government passing austerity measures, that is.
The measures passed this week include privatization of state-owned property, tax hikes and cuts to government jobs and social security. All of which have enraged the Greek people.
Basically, international leaders (including the European Union and International Monetary Fund) said if Greece didn’t pass austerity measures, they wouldn’t lend any more money.
If Greece doesn’t get more help, it could not only default on the original loan but go under completely. According to CNN, Standard and Poor’s (S&P) has already lowered Greece’s credit rating to just above default—it now has the lowest S&P rating of any nation.
The worry is Greece going under, taking the rest of Europe with her and affecting the entire global economy. What enrages the Greek people so much appears to be not only the austerity measures but that their politicians allowed the financial woes in the first place.
