Tensions Rise in Greece as Austerity Measures Backfire

by Corinna Jessen from Der Spiegel.

The austerity measures that were supposed to fix Greece's problems are dragging down the country's economy. Stores are closing, tax revenues are falling and unemployment has hit an unbelievable 70 percent in some places. Frustrated workers are threatening to strike back.

I think that it is a good idea to keep an eye on Greece to get a preview of events in other Western capitalist countries that are instituting programs of austerity.