August 14, 2020

Protests Break Out in Greece

posted on: Wednesday February 10, 2010

Jenny Arvanaghi ’10 / World Editor

On Wednesday, Feb. 10, civil service workers held a large, peaceful one-day protest against officials due to the financial crisis. Greece has been under intense pressure from other members of the European Union to cut its huge budget deficit and is in danger of failing to refinance some $28 billion in debt due in April and May, according to The New York Times.There is much fear of default in Greece and other struggling European countries due to the global financial crisis. European Union leaders will discuss Greece’s difficulties on Thursday and are concerned the crisis could threaten the euro. However, the Greek government’s proposals for the deep spending cuts have met significant resistance. “We won’t pay for their crisis!” On Wednesday, Feb. 10, civil service workers held a large, peaceful one-day protest against officials due to the financial crisis.Greece has been under intense pressure from other members of the European Union to cut its huge budget deficit and is in danger of failing to refinance some $28 billion in debt due in April and May, according to The New York Times.There is much fear of default in Greece and other struggling European countries due to the global financial crisis. European Union leaders will discuss Greece’s difficulties on Thursday and are concerned the crisis could threaten the euro.However, the Greek government’s proposals for the deep spending cuts have met significant resistance. “We won’t pay for their crisis!” people cried in loudspeakers from Klafhmonos Square, otherwise known as “the square of the crying people.” Greek workers went to the square to express their discontent, saying “Not one euro to be sacrificed to the bankers!” According to some commentators, the economic problems have exposed an ignorance about the harsh realities of the global economy in Greece.”People in other countries like Germany, France, and the United States learned about the workings of the economy the hard way, by seeing their jobs on the line,” said Babis Papadimitriou, an economic analyst at the Skai radio and television group. “This hasn’t been the case in Greece.”Some of the protestors though, realize that they need to make sacrifices. Others hope that the European Union will rescue their proud democracy.”We feel humiliated and we understand that things cannot remain the same as they were before,” said Vasiliki Revithi, a biochemist at the National Organization for Medicines. “But we gave the world democracy, and we expect the European Union to support us,” she added.The government has announced $2.75 billion in public spending cuts and aims at raising another $6.87 billion from new taxes and measures aimed at fighting tax evasion, which analysts said deprived the federal budget of $44.2 billion last year. Also, Greece aims to increase the average retirement age among men and women to 63 by 2015 and introducea higher gas tax.Analysts believe that Prime Minister George Papandreou was determined not to be the first Greek prime minister since World War II

Leave a Reply

Your email address will not be published. Required fields are marked *

*