Greek protesters defied the pleading of their prime minister in a televised address to the nation to accept austerity measures to allow a massive loan and “debt swap” plan by the IMF and EU to stave off bankruptcy. The measures approved by parliament involve slashing the minimum wage by up to one-third, deregulating the labour market to make it easier to lay off workers, and cutting pensions.
In a scene worthy of “Battle of the Damned” gas-mask clad protesters left 40 buildings in Athens in flames as police fired tear gas and rubber bullets, wounding hundreds. Greece’s 99 per cent have little or nothing to lose in a “structurally readjusted” country, leaving them at the forefront in the growing battle in the West to wrest the torch of democracy from politicians, both left and right, in thrall to their behind-the-scene corporate-banking masters.