Overnight, the Greek parliament imposed drastic cuts that will layoff some 150,000 government workers, raise the retirement age and lower the minimum wage by 20 percent. What would the same cutbacks feel like here in the U.S.?
Greeks rioted over the weekend, burning dozens of buildings in protest against budget cuts that are the latest condition for a $170 billion bailout from the European Union and the International Monetary Fund.
Many Greeks spent the weekend protesting against austerity cuts in their country, in part because individuals and businesses are already having trouble scraping by.
Greeks are striking again today to protest deep cuts the government wants to make in order to get more bailout money. But even the most recent austerity deal Greece proposed might not be enough.
A day after the government submitted a budget cutting plan that’s needed in order for Greece to get more bailout money, there are huge strikes over the cuts going on in Athens today.