Athens is still reeling from the riots which burned 45 buildings and triggered a forceful crackdown by police. Protesters were furious with the severe austerity cuts passed by Parliament in order to accept an EU bailout package. Demonstrations continued today, but nowhere near the ferocity of what was seen over the weekend.
Despite massive and often violent protests against them, severe austerity measures have been passed by the Greek parliament. This paves the way for emergency bailout loans from the European Union and the International Monetary Fund that are intended to prevent a total collapse of Greece’s economy and stabilize global markets. Here are some more photos from the ongoing riots that have erupted in the streets of Athens as a response to the painful budget cuts. View List ›
UPDATE: Parliament has passed the austerity measures, paving the way for financial assistance from the European Union and the International Monetary Fund which will hopefully stabilize not just the Greek economy, but the world economy. Unrest continues in the streets of Athens. Demonstrations against the Greek government’s proposed austerity measures turned violent in Athens today, with protesters hurling rocks and firebombs at police. Police have responded with tear gas and batons. If parliament doesn’t pass the cost-cutting plan, Greece will not receive a bailout package from the European Union. Without the aid package, Greece will default on its debt, sending shock waves through the world economy. View List ›
In Ireland, which adopted austerity measures two years ago that other European countries are now looking to pursue, the economic downturn has only grown worse.
