Thousands Of Greeks Take To The Streets Protesting Unfavorable Govt. Reforms

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The nationwide strike saw metro workers also join the protest by barricading themselves within the network’s headquarters in Athens. The country which is debt-plagued received approval for a $4.31 billion loan from the International Monetary Fund on the 16th of January.

The loan conditions, however, stipulated that the country had to impose austerity measures and spending cuts. These stipulations were part of the 4-year $36.6 billion rescue loan they received from the IMF last year in March. The country has been facing a great recession since 2008 and over the past 4 years they have worked on curbing their spending resulting in loss of jobs.

Since 2010, the country has literally been surviving on international creditor’s bailout loans. Statics have it that out of every four Greeks one is unemployed, salaries and pensions have decreased by 40% and Greek banks are in shaky positions.

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