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News Link • Economy - International

Bailout Battlefield: Greeks Fight Against Foreign Fiscal Take-Over


As the government sits down to vote on tax hikes and spending cuts. It's viewed as the country's last chance to stave off default - something that could have ruinous consequences for the Euro. But public opposition has turned violent. Scenes from downtown Athens resemble a war zone as protesters clash with police amid volleys of tear gas. Hundreds of thousands of people nationwide walked off their jobs in the strike against austerity. They say drowning the country in debt at crippling interest rates has failed once - and it'll fail again. - RT

DB: The average Greek did not participate in the wild spending that took place after Greece joined the union. One can argue on good evidence, in fact, that this was the plan all along. We see it regularly with the World Bank, which apparently lends to despots to put the larger country in hock. The despot flees, the IMF offers funds to the new government in return for austerity measures and Western corporations buy national resources at fire-sale prices.

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