Author Topic: Greek Lawmakers Approve Austerity Bill as Athens Burns (Read 1508 times)

Matthew · « **on:** February 13, 2012, 11:09:31 AM »

Greek Lawmakers Approve Austerity Bill as Athens Burns

February 13th, 2012
Via: Reuters:
The Greek parliament approved a deeply unpopular austerity bill to secure a second EU/IMF bailout and avoid national bankruptcy, as buildings burned across central Athens and violence spread around the country.
Cinemas, cafes, shops and banks were set ablaze in central Athens as black-masked protesters fought riot police outside parliament.
State television reported the violence spread to the tourist islands of Corfu and Crete, the northern city of Thessaloniki and towns in central Greece. Shops were looted in the capital where police said 34 buildings were ablaze.

Alex · « **Reply #1 on:** February 13, 2012, 01:17:41 PM »

Crete is known as being a main destination for gαy vacationers every year.

Busillis · « **Reply #2 on:** February 14, 2012, 01:37:23 AM »

What happens if a nation goes bankrupt?

s2srea · « **Reply #3 on:** February 14, 2012, 08:53:26 AM »

Quote from: Busillis

What happens if a nation goes bankrupt?

Well its happend twice before in recent memory, rather recently in south america. It was Argentina and... Uraguay? Paraguay? I know one of them did a 'partial' default, where they didn't completely default, but agreed to pay 80% of the debt which was owed them. The other (forgive me for being non-specific, its been a while since I'd learned about this) did a complete default- they just didn't pay any of their debt back.

The partial default country (I believe Argentina, but not sure) has done very, very well for themselves. They were able to sell bonds within 5 years I believe. The second country has never fully recovered.

s2srea · « **Reply #4 on:** February 14, 2012, 08:58:16 AM »

Here's a very simple and clear instruction on what I just mentioned:

http://www.npr.org/2011/12/21/142173203/what-greece-can-learn-from-south-america

sedetrad · « **Reply #5 on:** February 14, 2012, 11:36:13 AM »

I believe Tel Aviv was voted most "gαy friendly" city this year.