Anarchy descended on Athens Wednesday as demonstrations against strict new austerity measures turned ugly, leaving three dead. Rioters burned buildings in the city center and attempted to storm parliament, protesting the tax hikes and budget cuts that were conditions of the EU's $141 billion bailout of the bankrupt country. The turbulence signals nothing less than the "breakdown of a political system," says The Economist. This could mark the start of a "new generation of self-styled Robin Hoods practicing both political and criminal violence." There's a lesson here for America's high-spending government, says Tom Bemis in MarketWatch. Just "look at Greece to see how bad things can get." Watch the thousands of Greek demonstrators here:
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Anarchy in Athens
Greeks are up in arms over a new austerity plan. YouTube
May 5, 2010
of The Week magazine.