Giorgos Loukas, a former electrician, said austerity measures had reduced his monthly pension from €1,100 (£875) to €750 (£600) . "We're being stripped of everything we have," the 66-year old said. Both his wife and daughter are unemployed, and all three survive on his income. "Where is European solidarity? We're being insulted as a nation but I will never beg at soup-kitchens for food – my dignity is all I have left."
Greece has been told to implement a succession of spending cuts and structural reforms in an effort to bring down its massive debt in exchange a bailout of nearly €200bn (£160bn). But many experts warn that the measures are only making the recession deeper. One in two youths is out of a job while thousands of educated and skilled professionals are fleeing the country in search of opportunities abroad.
"I feel my country is on auction and we're just an economic experiment," said Dimitris Palles, 49, a physics researcher at the National Hellenic Research Foundation. Mr Palles, 49, who's seen his annual salary drop from €24,000 (£19,000) to €19,500 (£15,500). "No level of political mismanagement can justify the pain we're being asked to endure," he says.
Greece's international creditors were also reported to be loggerheads yesterday over how to solve Athens' debt crisis, as the International Monetary Fund (IMF) demanded that European governments write off some of the Greek debt they hold. According to Reuters, tensions between Greece and the "troika" of European Union, European Central Bank and IMF have escalated as the IMF pushes to restructure Greek debts to public-sector foreign creditors, whereas EU leaders would rather give Athens more time to meet the demands of its bailout.
Public healthcare is one of the sectors that has been gravely affected by the crisis in Greece. Chemists and pharmaceutical companies have stopped giving drugs on credit to medical insurers saying they haven't been paid in months by the state.
Meanwhile, Greece's power company cut the electricity at a kidney hospital on the island of Aegina for several hours on Tuesday while the patients were undergoing blood dialysis, forcing the centre to rely on its generator. from the UK Independent
Any wonder of course that Greece and Spain are in chaos with unemployed youth over 50%.....and the unfunded liabilities taking front and center now. They had better get ready and move quickly (and they will).....to crackdown and at the same time throw some fiat onto this fire...(and they will).....This is all being studied so just sit back and do the same. Monetization is ramping and be prepared. Austerity is a bitch and the peeps are not going to take any of it without a fight. They may have to stop watching football and stuffing bon bons in their face but they will fight.....of course until they are crushed like bugs.