Time (June 16, 2011)
A year of austerity has left many Greeks nearly broke or unemployed, “and the debt-ridden country no better off.” Greece now has the ignominy of holding the world’s lowest debt rating, following S&P’s most recent downgrade on June 13. Athen’s Syntagma Square (Constitution Square) has become the daily scene of protests and riots. The government appears near dead, with neither major party able to offer leadership. It’s difficult “to see any clear champion for the millions of Greeks struggling to get by.”
A year of austerity has left many Greeks nearly broke or unemployed, “and the debt-ridden country no better off.” Greece now has the ignominy of holding the world’s lowest debt rating, following S&P’s most recent downgrade on June 13. Athen’s Syntagma Square (Constitution Square) has become the daily scene of protests and riots. The government appears near dead, with neither major party able to offer leadership. It’s difficult “to see any clear champion for the millions of Greeks struggling to get by.”
Tags: Debt, Downgrade, Government, Greece, S&P, Unemployment
