Protests in Greece take place in response to austerity measures imposed by the government.
World markets plunge over fears that Greece’s economic crisis will spread to other countries despite austerity measures.In a dramatic escalation of the anger unleashed by the economic crisis engulfing Greece, communist protesters stormed the Acropolis today as the euro and world markets plunged on concerns about the debt-choked country’s huge bailout from the EU and the IMF.
Irate trade unionists took over Athens’ ancient landmark as fury over an unprecedented package of austerity measures, agreed in return for a multibillion euro aid package from eurozone nations and the IMF, intensified.
By the break of dawn the citadel’s ramparts had been draped with banners proclaiming: “Peoples of Europe rise up.”
Fears that the Greek crisis will spread to other countries sent markets reeling around the world today. The FTSE 100 in London closed down 142 points and, in New York, American markets fell by more than 2% as investors worried that a failure to push through austerity measures in Greece will lead to a spiralling loss of confidence in other indebted countries.
In Athens, protesting public sector workers said their action had been prompted by “blind anger” over the near-bankrupt government’s decision to accept the painful policies.
The measures, which are aimed at bringing Greece’s public deficit within permissible EU levels by 2014, through a tough cost-cutting regime worth €30bn (£25bn), have hit civil servants the hardest.
Furious Greeks have likened the three-year austerity programme and the attendant international monitoring of their public finances, to a foreign occupation.