By Hannah Hyman
Among other issues gripping the globe, the economic crisis continues to take a toll on stockholders, workers, and citizens worldwide. In France, Greece and Iceland, to name a few, there have been riots and disintegration of previously stable governments and markets.
In France, there is strong resentment over the government’s decision to bailout the banks, and for the past few days more than a million workers have been striking all over the country. In the largest streets in Paris, some of the crowds have gotten so out of hand that police have had to use tear gas to calm them. The French President, Nicolas Sarkozy, has agreed that concerns over the crisis are legitimate and the government should listen and act. Sarkozy plans to meet with union and business leaders in February to make decisions about what must be done.
In addition to the uproar in France, farmers in Greece are blockading major streets around the country with tractors and trucks because of price cuts on their produce. Unsatisfied with the 500 million Euro aid package that was offered by the Agricultural Development minister, Sotiris Hatzigakis, they refuse to move the machinery until they are offered a clearer and more favorable deal. The government claims that this is the maximum aid they can provide, but the farmers refuse to budge.
In Iceland, citizens are making a fuss over their economic strife as well. Iceland is the country that will probably suffer the most from this crisis next to Latvia and a few other post-Soviet countries. In the capitol, Reykjavik, bon fires are burning in the streets, its orderly government is has fallen to pieces, and the people are more uproarious than ever. Geir Haarde, whose Independence Party saw a rapid downfall in the past few weeks, has given way for a new prime minister, Johanna Sigurdardottir. Sigurdardottir is an openly gay, 66-year-old and an experienced politician, as she has served as the social affairs minister in past years. She is scheduled to serve as prime minister only until the end of April, when an election will take place. In the meantime, a bailout plan providing a 10 billion dollar package, enough to give about 30,000 dollars to each of Iceland’s 320,000 inhabitants, will be implemented to try to salvage businesses and services.
In this standstill economy, where even some of the most stable systems are falling to their knees, it’s hard to be optimistic. Riots around the world appear to be at their peaks, but with the right solutions, governments hope to soon have them under control.
Sources:
“LiveLeak.com – Crowds Riot in France Over Economy.” LiveLeak.com – Redefining the Media. 29 Jan. 2009. 04 Feb. 2009 <http://www.liveleak.com/view?i=53b_1233279992>.
“Free Preview of Members-Only Content | Stratfor.” Stratfor – Geopolitical intelligence, economic, political, and military strategic forecasting | Stratfor. 29 Jan. 2009. Stratfor. 04 Feb. 2009 <http://www.stratfor.com/analysis/20090129_europe_winter_social_discontent>.
Traynor, Ian. “Governments across Europe tremble as effects of global recession prompt angry people to take to the streets.” Guardian.uk.co. 31 Jan. 2009. The Guardian. 04 Feb. 2009 <http://www.guardian.co.uk/business/2009/jan/31/global-recession-europe-protests>.
