Greece Has All Chances To Send Euro Down and Split EU

The national strike organized by Greek trade unions on March 11 became the second all-national action of protest held within one month. The previous one shattered the European nation on February 24. The most recent action was organized to protest against the economic politics of the government. The strike developed into massive demonstrations with riots and clashes with the police.

Hundreds of thousands of employees did not go to work in Greece on March 11. Hospitals and police stations were closed, the public transport was halted and all flights were grounded in the whole nation. Schools, universities and banks were closed too.

The most recent strike became the largest action organized by Greek trade unions during the recent years. Policemen and firefighters take part in the action too. Therefore, it is hard to say who is going to maintain law and order in the country in case other massive riots occur.

The Greek react to the anti-crisis measures of the nation’s government that tries to put the fire down by pouring more gas into it. People express their protests in connection with the reduction of their wages, pensions and social allowances accompanied with the increase of taxes.

The Greek government has been taking a number of actions recently in an attempt to overcome the economic crisis and pay the 300-billion-euro debt already this year.

The approved bailout measures give the nation an opportunity to save $4.8 billion euros for the budget. They include another increase of taxes and a further reduction of state funding. In addition, the government will raise excises on alcohol and tobacco production and cut bonuses to state clerks by 30 percent.

Greek Prime Minister George Papandreou compared the current financial crisis in Greece with war time. The prime minister said that Greece would have to face bankruptcy if no radical measures were taken to ease the debt burden.

The situation in Greece raises serious concerns with the European Union. Greece has become the weak link of the Eurozone. If Greece declares default, it will strike a very serious blow on the euro and the future of the European Union in general.

Ivan Tulyakov

Read the original in Russian

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Author`s name Dmitry Sudakov