Thursday, October 20, 2011

More Fodder For The Bankers

If it's any consolation, America isn't the only country that's run by the toadies of big financial institutions. David Dayen summarizes conditions in Greece:
Greek MPs ignored a 48-hour general strike, the first in the country in decades, and a march of nearly 100,000 on the Parliament building, by preparing to approve another round of austerity measures that continue to cripple the world’s oldest democracy. An initial test vote on the austerity bill passed 154-141, along party lines. The ruling PASOK only has an 8-vote majority among the 300-seat Parliament.
Large, Violent Protests Fail to Sway Greek Leaders From More Austerity

I wrote in a comment at yesterday that however all this Occupy stuff plays out, it's going to be the work of years. The Greeks have been doing this for a year now, yet things seem no different than when they started, except that it's gotten violent now.

The likely trajectory here isn't a pleasant one.

This article originally appeared as a diary at

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