ABCNews: Greece, Spanish Riots Shatter European Market Calm

[Ellis]

Has anyone been following the news about the riots in Greece and Spain?

Greece riots practically every other week.

Europe's fragile financial calm was shattered Wednesday as investors worried that violent anti-austerity protests in Greece and Spain's debt troubles showed that the region still cannot get a grip on its financial crisis and stabilize its common currency, the euro.

Police fired tear gas at rioters hurling gasoline bombs and chunks of marble Wednesday during Greece's largest anti-austerity demonstration in six months — part of a 24-hour general strike that was a test for the nearly four-month old coalition government and the new spending cuts it plans to push through.

http://abcnews.go.com/International/wireStory/greek-spanish-riots-shatter-european-market-calm-17331469#.UGS0s41mQmw

The brief but intense clashes by a couple of hundred rioters participating in the demonstration of more than 60,000 people came a day after anti-austerity protests rocked the Spanish capital, Madrid.

Here's some video from Madrid...

I get the strangest feeling that many parts of the world are coming closer and closer to eating the rich.

[SnyderShrugged]

I wonder if our people will riot when we are forced into austerity due to the rampant irresponsible spending and ever increased budgets? Hope not, but since austerity is inevitable, we'll see eventually.

[Hubbs]

Remember, everyone, we need to keep using the label "austerity" to describe spending that merely increases at 4% per year.

[SnyderShrugged]

Remember, everyone, we need to keep using the label "austerity" to describe spending that merely increases at 4% per year.

That's an excellent point!

[Mursilis]

I wonder if our people will riot when we are forced into austerity due to the rampant irresponsible spending and ever increased budgets?

I'm guessing no. Why do you think The Man has been fattening up the average American? It's hard to riot when it takes all your energy just to get up from your chair. It's hard enough just making it to the fridge for another cold one.

Hope not, but since austerity is inevitable, we'll see eventually.

That, or rampant inflation. We control our own money supply.

[SnyderShrugged]

I'm guessing no. Why do you think The Man has been fattening up the average American? It's hard to riot when it takes all your energy just to get up from your chair. It's hard enough just making it to the fridge for another cold one.

That, or rampant inflation. We control our own money supply.

"We" dont, an international Banking Cartel named the Federal Reserve does.

[Ellis]

"We" dont, an international Banking Cartel named the Federal Reserve does.

I can't wait for the day America is ready to start talking about that.

[SnyderShrugged]

I can't wait for the day America is ready to start talking about that.

Me too!

[Jumbo]

"We" dont, an international Banking Cartel named the Federal Reserve does.

I can't wait for the day America is ready to start talking about that.

Me too!

Me too!

Hell, start a thread on it and use the first quote as the title. It's bean awhile We are America! :pfft:

[Ellis]

I would be banned within a few hours. Not going there!

[visionary]

http://www.aljazeera.com/news/europe/2012/11/201211717196604894.html

Rallies criple Athens as MPs debate austerity

Greek police have fired teargas and water cannons to disperse thousands of protesters who massed outside parliament in central Athens in a massive show of anger against legislators who are due to narrowly pass an austerity package.

Wednesday's violence erupted as a handful of protesters tried to break through a barricade to enter parliament, where Prime Minister Antonis Samaras is expected to barely eke out a win for the belt-tightening law despite opposition from a coalition partner.

But the parliamentary session was briefly interrupted when parliament workers went on strike and opposition legislators walked out of the chamber in protest.

Outside parliament, loud booms rang out as protesters hurled petrol bombs and police responded with teargas and stun grenades. Smoke and small fires could be seen on a street next to parliament.

That came after a sea of Greeks braved a steady downpour holding flags and banners saying "It's them or us!" and "End this disaster!" stood before riot police guarding parliament.

In all, nearly 100,000 protesters - some chanting "Fight! They're drinking our blood" - packed the square and side streets in one of the largest rallies seen in months, police said.

Public transport was halted, schools, banks and government offices were shut and garbage was piling up on streets on the second day of a two-day nationwide strike, called to protest against the vote.

[pjfootballer]

Yeah, I've been paying attention to them. They're a riot!

[visionary]

https://twitter.com/BreakingNews

Greek Parliament approves 2013 budget, which involves further deep cuts to pensions, salaries and benefits - @BBCBreaking

5:52 PM

http://www.reuters.com/article/2012/11/11/us-greece-budget-vote-idUSBRE8AA0HE20121111

Greek coalition approves 2013 budget in parliament

Greece's ruling coalition secured enough votes in parliament on Sunday to approve the 2013 budget law, a crucial requirement for Athens to revive its stalled international bailout program and avoid insolvency.

Deputies allied to the three-party government approved the budget with a comfortable majority of parliament's 300 seats.

It followed a much narrower margin in a vote last week for a package of austerity and labor reforms also required for Greece to receive more aid.

https://twitter.com/DanielePinto

Greece parliament passes 2013 austerity budget with 167 votes; 126 voted against measures.

6:17 PM

[thebluefood]

https://twitter.com/BreakingNews

Oh lord, things are gonna get even uglier, aren't they?

[Larry]

Oh lord, things are gonna get even uglier, aren't they?

I think that's a safe bet.

Mostly, I hope that they only get worse in Greece. (Although heck. Might as well get the Fiscal Cliff train wreck started early.)

[twa]

I think that's a safe bet.

Mostly, I hope that they only get worse in Greece. (Although heck. Might as well get the Fiscal Cliff train wreck started early.)

I sometimes wonder if that is why the zombie craze is in place....desensitizing us for the coming slaughter of our neighbors?

I need a drink

[visionary]

http://www.reuters.com/article/2012/11/12/us-spain-evictions-idUSBRE8AB0GY20121112

Spain promises to spare needy from eviction after suicides

Spanish Economy Minister Luis de Guindos promised on Monday that no needy family will go homeless over mortgage arrears, responding to public fury at a homeowner's suicide as she was being evicted.

Facing accusations that politicians and banks are complicit in de facto "murder", Spain's banking association said its members would suspend eviction orders for two years for those borrowers worst hit by economic crisis and record unemployment.

Banks have repossessed close to 400,000 homes in Spain since a property bubble burst in 2008 and the nation subsequently sank into recession, throwing millions out of work and unable to keep up mortgage payments to the banks.

Last Friday's suicide of 53-year-old Amaia Egana has inflamed a public already angered by what they see as a lack of compassion among Spanish banks, many of which have benefited from taxpayer-funded bailouts organized by the political elite.

[visionary]

http://online.wsj.com/article/SB10001424127887324556304578118263611154772.html?mod=WSJEurope_hpp_LEFTTopStories

Spain, Portugal, Greece Strike Against Austerity

Unions in Spain, Portugal and Greece went on strike Wednesday to protest government austerity plans amid a wide economic contraction across Europe's periphery, but questions remained about the unions' ability to influence economic policy.

[SnyderShrugged]

http://www.reuters.com/article/2012/11/12/us-spain-evictions-idUSBRE8AB0GY20121112

This says it all...

many of which have benefited from taxpayer-funded bailouts organized by the political elite.

[Tulane Skins Fan]

This says it all...

many of which have benefited from taxpayer-funded bailouts organized by the political elite.

The bigger picture says that these austerity measures have made their economies and unemployment numbers much worse.

[thebluefood]

The bigger picture says that these austerity measures have made their economies and unemployment numbers much worse.

But what else are they going to do? The facts of matter is that these European nations have to reign in their economy before they completely bust. If Greece didn't pass that austerity measure, their government would have run out of money this week. These countries are going to have to balance their accounts somehow.

When you spend more than you've got, you're going to run into trouble. When you make promises you can't keep, and it looks like that's the case in Greece and Spain, you're going to run into trouble.

[SnyderShrugged]

The bigger picture says that these austerity measures have made their economies and unemployment numbers much worse.

The phrase..

"You made your bed, now sleep in it" comes to mind.

Our bed is being made as we speak too.

[Tulane Skins Fan]

But what else are they going to do? The facts of matter is that these European nations have to reign in their economy before they completely bust. If Greece didn't pass that austerity measure, their government would have run out of money this week. These countries are going to have to balance their accounts somehow.

When you spend more than you've got, you're going to run into trouble. When you make promises you can't keep, and it looks like that's the case in Greece and Spain, you're going to run into trouble.

They should have done what we did and pass a stimulus bill and run more deficit in the short term. Then, after unemployment picked up and revenues can be generated, THEN gotten their books in order.

They are doing the opposite of what should have been done. Well, opposite order of when it should have been done.

The phrase..

"You made your bed, now sleep in it" comes to mind.

Our bed is being made as we speak too.

Not really. We are nowhere near Greece. Sorry, we aren't. And we shouldnt necessarily be trying to balance the budget right now. We should be trying to reduce the deficit, even significantly, but not at the expense of economic growth. Which is what Greece and Spain have done with these huge austerity packages.

Look, you are basically saying the US should do what Greece and Spain have done. And we should just take our medicine and lay in our beds, which sounds an awful lot like quitting to me. I don't agree. There's more than one way to skin a cat, and some ways are better than others.

[SnyderShrugged]

They should have done what we did and pass a stimulus bill and run more deficit in the short term. Then, after unemployment picked up and revenues can be generated, THEN gotten their books in order.

They are doing the opposite of what should have been done. Well, opposite order of when it should have been done.

Not really. We are nowhere near Greece. Sorry, we aren't. And we shouldnt necessarily be trying to balance the budget right now. We should be trying to reduce the deficit, even significantly, but not at the expense of economic growth. Which is what Greece and Spain have done with these huge austerity packages.

Look, you are basically saying the US should do what Greece and Spain have done. And we should just take our medicine and lay in our beds, which sounds an awful lot like quitting to me. I don't agree. There's more than one way to skin a cat, and some ways are better than others.

No, we are saying the US should pre-emptively avoid the need to do what Greece has done by doing smaller, less painful measures now rather than one huge hit when its essentially too late. We do need to take our medicine in some form though, we have caused too much damage already with the irresponsible spending. To frame it in any other manner is equal to a head in the sand and detached from reality.

[Tulane Skins Fan]

No, we are saying the US should pre-emptively avoid the need to do what Greece has done by doing smaller, less painful measures now rather than one huge hit when its essentially too late. We do need to take our medicine in some form though, we have caused too much damage already with the irresponsible spending. To frame it in any other manner is equal to a head in the sand and detached from reality.

We should have done what you said when it was actually preemptive. 2000-2007 or so. '08 was probably too late. Yes, we had a budget surplus in 2000, we pissed it away in '01-present. I agree we should have KEPT our finances in order for those 7 years. We didn't. That doesnt mean we balance our checkbook this moment.

It means you have to figure out a long term solution to getting our house back in order. The first step is to get the economy going. Then, when its going, you balance up your books. But if we balanced our books first, like Greece and Spain did, then we'd be just like them. Or just like ourselves in the '20's.