Ending down 16.23 percent by the end of Monday, Athens' stock market experienced its worst daily performance since at least 1985, when modern record keeping began.
Beppe Grillo, the comedian-turned-populist-leader of Italy’s second largest political party, has called for the nationalization of Italian banks and an exit from the euro.
Yanis Varoufakis, who resigned recently, predicted that the measures will “go down in history as the greatest disaster of macroeconomic management ever.”
Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman maintain that Greece must keep going it alone and vote "no" on the upcoming referendum on the bailout.
Greeks found their savings blocked and banks closed Monday morning after a standoff between the country and its bailout creditors that cast doubt on the future of Europe’s single-currency zone.
Like Greece, Spain has been wracked by the global recession and could soon elect an anti-austerity government.
While the wealthiest 85 individuals on the planet own more wealth than the bottom half of the world’s population -- and when the top 1 percent will soon own more wealth than the bottom 99 percent -- the people of Greece and the anti-austerity party, Syriza, they elected to lead them are struggling to rebuild their economy so that ordinary people there can live with a shred of dignity and security.
As Greece tries to come to an "honorable agreement" with austerity-loving eurozone finance ministers, let's not forget who stood to gain the most from the financial crises in southern Europe.