Tens of thousands took to the streets, clashing with police, as they protested the presence of the leader of the strongest economy in Europe. Five rioters were injured and twenty-four were arrested, as more than forty thousand protesters fought with nearly seven thousand police.
Merkel stated her sympathy for Greece, saying all would be worth it in the long run. Samaras said that he was proud to see Germany showing it's solidarity with the Greek people.
Greece has been forced to make severe austerity cuts to meet demands that the European Commission, European Central Bank, and International Monetary Fund have placed upon the country. If the country can meet the demands, they will be rewarded with EU bailout money, beginning with a thirty-one billion euro sum.
One of the requirements is that the country get spending down to 137.3% of GDP, by 2017. The IMF doubts that the country will even be able to get to 152.8% by that time. It is also feared that Greece will not be able to even begin paying off the debt until 2016, when they're supposed to be doing so by 2014.
No comments:
Post a Comment