Posts Tagged ‘ austerity package ’

Riots in Greece; socialism at its best


Greece’s citizens, quite the socialists by nature, are having a hard time of it now that they’ve run out of other people’s money and the free, unsustainable goodies that come with it.

OK, OK, so they haven’t run out. They’ve just had to cut back on their privilaged, pampered lifestyle in order to secure another whopping $171bn €230bn of bailout money that’ll, let’s face it, probably be a waste of (other people’s) money.

Greece’s parliament has approved an austerity and debt-relief bill, crucial for the country to avoid bankruptcy and remain in the eurozone. Lawmakers voted today in favor of the bill that imposes harsh new austerity measures in return for a $171 billion new bailout agreement and related deal with private creditors to shave $132 billion off the country’s national debt. The vote occurred after extensive rioting and looting swept through the Greek capital.

There are some good piccies to go with that last link, too.

Tyler Durden at ZeroHedge:

[T]he question now is what the popular Greek response will be having learned its politicians sold it out yet again, which will likely be nothing much, as it is 1 am local time, and as everyone knows revolutions in heavily socialist countries only start between 9 am and 5 pm, with a 2 hour break for siesta.

Will likely be nothing much? A bit harsh. They did manage to get out of bed and riot because, you know, trashing your own country when it’s already broke is the obvious smart choice.

Related: click here to see in pictures who loaned Greece the money.

UPDATE

Athens’ Starbucks ablaze.

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