Markets rallied last month as they expected a massive bailout of Greece. Instead, they're waking up today to find that the bailout is contingent on massive austerity measures that has the Greek masses back out in the streets in violent protests.
If your bankers were to cut your mortgage and credit card debt by 50 percent,
you certainly would celebrate. But if the haircut came with a forced sale of
your prized possessions, a 50 percent cut in your wages, a 50 percent cut in
your pension, a repossession of your car and a loss of nearly all of your state
benefits such as education and health care, then maybe you too would be throwing
molotov cocktails on the streets. Welcome to Syntagma Square. Oh yes and all of
this austerity is happening while inflation is running well north of 3
percent.
Don't think it could happen here? Wait until OWS figures out the extent to which the banks have ripped them off over the last 40 years. The Bush-organized bailouts were just the tip of the iceberg.
US bank exposure to Europe is at least 2 trillion dollars. Wait until the next bailout coupled with massive austerity in the form of public sector layoffs, and revisions to social security and medicaire, as well as pension re-negotiations, along with perpetual zero interest rates to slaughter pensioners and other savers.
Unprecedented! Thessaloniki Parade Cancelled Due To Protests
Unprecedented! The military parade on the anniversary of OXI-Day in
Thessaloniki has been cancelled after protesters insulted the President
of the Republic, Karolos Papoulias. Papoulias was ‘weclomed’ with boos
by crowds of protesters. They raised banners and chanted the usual
slogans “Thieves!” and “Traitors!”. The President of the Greek Republic
felt deeply insulted and decided to leave the parade as protesters were
hindering the official parade start.
Karolos Papoulias – President of the Greek Republic
“It’s a shame on such an occasion, I’m sorry for the protesters choosing such a historical day that belongs to the people” Papoulias told reporters upon his withdrawal, adding “I fought against the Nazis at the age of 15. Now they shout “Papoulias, Traitor! What traitor?”
Riot police arrived and tension rose and the President was forced to leave the area under strong police escort. At the same time, all politicians, deputies, and even the Defense Minister left the VIP podium as the atmosphere became very tense and it could get out of control due to the crowds of protesters, groups of people to participate at the parade and spectators.
Greek media report that the protesters were members of some left political parties, “Indignant Greeks, workers at social programmes and even Iraklis FC fans but not more than 500-600 people.
According to latest information, some groups of civilians supposedly to parade joined the ‘parade’ of protesters.
Karolos Papoulias – President of the Greek Republic
“It’s a shame on such an occasion, I’m sorry for the protesters choosing such a historical day that belongs to the people” Papoulias told reporters upon his withdrawal, adding “I fought against the Nazis at the age of 15. Now they shout “Papoulias, Traitor! What traitor?”
Riot police arrived and tension rose and the President was forced to leave the area under strong police escort. At the same time, all politicians, deputies, and even the Defense Minister left the VIP podium as the atmosphere became very tense and it could get out of control due to the crowds of protesters, groups of people to participate at the parade and spectators.
Greek media report that the protesters were members of some left political parties, “Indignant Greeks, workers at social programmes and even Iraklis FC fans but not more than 500-600 people.
According to latest information, some groups of civilians supposedly to parade joined the ‘parade’ of protesters.
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