Greek Financial Crisis Hits Poor
Posted on Apr 2, 2010
The origins of Greece’s economic crisis lie with the recklessness of the rich, but the consequences are directly affecting the poor: A new poll shows that three-quarters of the Greek population believe that the current plans to cut the country’s budget deficit are “socially unfair.”
The austerity measures, which many believe are aimed at low-income earners, came after considerable pressure from other European countries. —JCL
Three-quarters of Greeks think that government plans to cut the country’s huge budget deficit are “socially unfair” because they are aimed at low-income earners, a poll has showed.
The survey results also revealed that nearly half of Greeks did not view a recently agreed EU emergency finance mechanism, arranged to provide a safety net for Greece’s debts, as positive.
Facing rising borrowing costs and pressure from its eurozone peers, the Socialist-led government has cut public wages, frozen pensions and raised taxes to cut the budget gap by almost a third to 8.7 per cent of gross domestic product (GDP).
AP / Petros Giannakouris
A protesting firefighter holds a flare during a March 23 demonstration against the Greek government’s austerity measures in Athens.