In our country austerity is imposed by an elected government. In Greece, however, a government was elected to try a different way out of the crisis. But the will of the people is being thwarted by a troika of largely unelected institutions: the IMF, The European Council and the European Bank.Austerity is endangering the social fabric in Greece and it is not working to reduce the deficit because the actual debt has increased from 120% of the GDP to 180%.
Most gravely, Greek unemployment has reached 28% (60% for young people), and average income decreased by 40%. These levels are unsustainable which are unsustainable will mean that even with the best will, the debt levels which their government has to deal with cannot be resolved. Continue reading