Nationwide Greek strike over austerity program

Greece’s austerity program has been rejected by a large part of the public and there is a nationwide strike against the program, according to the BBC.

The austerity program calls for, among other things, a wage freeze and raise the average retirement age from 61 to 63 in 2015 (to reduce costs to the pension program).

The basis for the strikes, according to the BBC, is the broad belief that:

1. The crisis has been caused by speculators and European central bankers;

2. The rich are dodging taxes; and

3. The austerity program is an affront to the working and middle class.

These strikes come shortly after Germany led a movement to bail Greece out, according to the Globe and Mail.

The Globe and Mail has an article on the effects of a Greece insolvency on the rest of the world, namely a threat to the euro, a domino effect, and capital flight.