Riots in Greece After New Budget Laid Out

Riots in Greece After New Budget Laid Out

07. Mar, 2010 3 Comments

Photo Source: Time-CNN

Violence erupted in the streets of Athens this week by protestors opposed to Greece’s new budget plan for 2010. The riot squad and ample police support were relied on during the riot, which resulted in tear gas and violent measures on part of the police in order to calm rioters. Minimal arrests were made in comparison to the amount of protestors, which numbered in the thousands.

The protests, and ensuing riots, were sparked by the Greek government’s announcement of a 4.8 billion euro austerity measure. The plan includes a freeze in pensions, cuts to government salaries, heightened taxes on luxuries like alcohol and tobacco, and a sales tax hike from 19 to 21 per cent. The Greek government’s move comes in a strategic political framework attempting to show European Union partners that it can avoid bankruptcy.

The controversial budget is in response to the world economic crisis, that has left many European Union nations in bleak financial state. Instead of claiming bankruptcy and relying solely on international support from the World Bank and IMF, the government of Greece sees financial stability available through tax hikes, expenditure cuts, and limited IMF support. The government has not ruled out accepting loans from IMF, but for now is trying a sovereign approach. Analysts see this as a motivated political move: Leaving the IMF out of Greece’s problems, for now, shows the stability of the European Union, dissolving any thought that it is doomed financially.

Whether or not this tactic of the Greek government will be a positive move in the long run will have to be judged later. For now, the general working public of Greece is outraged at the decision. Outlandish tax hikes that target popular demographics, and cuts to pensions, means a reassessment of living conditions for the majority of citizens.

Twitter Digg Delicious Stumbleupon Technorati Facebook Email
Campus Life, Culture Cafe, Political Spectrum
, , ,

3 Responses to “Riots in Greece After New Budget Laid Out”

  1. April Whitzman 07. Mar, 2010 at 5:32 PM

    John,

    How come I feel that there is so much chaos happening in our world? From the devestating deaths in Haiti and Chili to the Riots in Greece that you just spoke of… it makes us realize how thankful we should be to be living where you do.

    Thanks for the post.. I had no idea this had occured (and truthfully did not believe I lived under a rock).

  2. alixrobinson 07. Mar, 2010 at 5:48 PM

    Sadly this whole rioting thing is not new! There have been riots in Greece for the last month for just the thought of what the budget might be. Granted not as severe as this one but it is something we do have to deal with in the world in an economic downward spiral.

    They say that the economy is starting to recover in Canada and the U.S. We seem to forget that just because it is getting better here or especially in the U.S., does not mean it is getting better in the rest of the world.

  3. John C 07. Mar, 2010 at 8:07 PM

    I agree, April. We are really privileged to be living where we do…