Athens Greece is in the throes of a huge riot where three people have died so far and countless arrested after the people voting in a general election by 60% no vote to austerity are pissed because their vote was ignored and another bailout with huge side effects budget cuts to take place for the bailout to happen. In the morning after the riot in Athens, Greek Lawmakers approved austerity measures that were overwhelmingly rejected just a few days before.
As part of the austerity, they include tax hikes on businesses and individuals, pension cuts and aggressive budget surplus targets that will keep government spending lean for years to come. Several of the pro-government lawmakers voted NO and seemed to be ignored while Prime Minister Alexis Tsipras eventually wins vote with support of opposition MP’s, while 64 voted against. IMF says Greek debt is “highly unsustainable” and will only kick the issue down the road for three years and at that time this will have to be done all over unless Greece could find another way to sustain itself while paying a yearly loan payment. It definitely looks for now at least that Greece will stay in the European Union for now.
Written by Thomas A Fry