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Gridlock in Greece

Posted on Jun 28, 2011
AP / Petros Karadjias

Riot police face off with protesters during a demonstration in Athens on Tuesday.

So, time is running out for the Greek government to put a plan in place in the interest of avoiding complete economic catastrophe. Too bad Prime Minister George Papandreou’s austerity-tastic ideas are failing to win over the protesters making their displeasure very clear outside the parliament complex in Athens.  —KA

BBC:

Thousands of protesters have gathered outside parliament in the capital where public transport has ground to a halt.

PM George Papandreou has said that only his 28bn-euro (£25bn) austerity plan would get Greece back on its feet.

If the package is not approved, Greece could run out of money within weeks.

Without a new plan in place, the EU and IMF say they will withhold 12bn euros of loans which Greece needs to repay debts due in mid-July.

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Leefeller's avatar

By Leefeller, June 28, 2011 at 9:13 pm Link to this comment

This BBC article is very weak on what is going on. There is a much more comprehensive article in the Nation, for anyone interested.

From what I gather many factors caused the problem in Greece. Interestedly enough, in some ways the Greek problem sounds very like the USA, no jobs, illegal aliens and with Conservatives pushing for the fall of the country.

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