Thursday, May 6, 2010

Debt woes in Greece turn violent as fears spread to other European countries

Washington Post
May 6, 2010

Violence erupted in Greece on Wednesday when tens of thousands of demonstrators protesting stringent economic measures hit the streets in Athens, rioters heaved Molotov cocktails and three bank employees died after their building was torched.

The protesters were objecting to cuts in government wages and pensions required by a deal announced Sunday that would give Greece $141 billion in loans from the European Union and the International Monetary Fund, but only if the government promises to restore its tattered finances by imposing program cuts and tax increases.

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