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Politics : Politics for Pros- moderated
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From: LindyBill10/9/2011 9:04:53 AM
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"Greek Tragedy
October 9, 2011: The Greek debt crisis is straining the European Union's fiscal resources. Various international credit rating agencies are downgrading European banks as another credit crunch looms. Germany appears to be willing to float more loan money, but the Greek government has to enforce austerity measures. And there's the problem. Many Greeks, particularly on the left side of the political spectrum, are refusing to accept the budget cuts. Unemployment is somewhere between 15 and 20 percent, depending on the source. The number of declared bankruptcies has increased dramatically. Greek security officials are concerned about renewed violence. In late 2008, several leftist terrorist organizations were reportedly eager to take advantage of the economic decline and resulting political frustration. They saw it as an opportunity to start a workers uprising. It's the language of 19th century anarchism and revolutionary socialism, but the extremists believe it. Given the chance, they will use violence."

strategypage.com
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