This video is called Troika troubles in Greece and Portugal.
While the Greek government consults EU representatives about how best to lower the state deficit, wide-scale popular resistance to austerity is brewing. Greek workers are no longer ready to accept further attacks on their fundamental social rights. Although the government has not yet officially publicised its concrete proposals for the next round of austerity, numerous groups of workers are in uproar: here.
Hundreds of thousands of people took part in demonstrations in 40 cities across Portugal on Saturday, organised via social media, under the slogan “To hell with the troika, we want our lives back.” The troika—comprised of the European Commission, International Monetary Fund and European Central Bank—agreed to bail out Portugal with a €78 billion ($102 billion) loan last year in return for the government carrying out brutal austerity measures: here. And here.
State indebtedness and social spending cuts are the result of the looting of public finances by the rich. This is the conclusion to be drawn from the fourth Poverty and Wealth Report issued by the German government. Parts of the study were cited in the Süddeutsche Zeitung newspaper earlier this week: here.