Quote from IanMacQuaide:
Here it comes.....
Greek security forces have warned of a wave of violence reminiscent of the terror that stalked Italy in the seventies after urban guerillas threatened last week to turn the country into a "war zone".
"Greece has entered a new phase of political violence by anarchist-oriented organisations that are more murderous, dangerous, capable and nihilistic than ever before," said Athanasios Drougos, a defence and counter-terrorism analyst in Athens.
"For the first time we are seeing a nexus of terrorist and criminal activity," he said. "These groups don't care about collateral damage, innocent bystanders being killed in the process. They are very extreme."
The threats came from a guerrilla group called the Sect of Revolutionaries, as it claimed credit for the murder of Sokratis Giolas, an investigative journalist. Giolas was shot dead outside his Athenian home on 19 July, in front of his pregant wife.
http://www.guardian.co.uk/world/2010/aug/01/greece-war-zone-revolutionaries-tourists
Something else that is telling in Greece:
Greece, being a small country in a rather volatile area of the world has mandatory military service. Having parents born in Greece - I applied for dual citizenship, so in about a year from now, I could be drafted. The laws on military service have become more lax, especially for those over 35 yrs old (which is me).
However, the duration of service for those under 35 will be expanded again I've been told - if it hasn't already - which I'm looking into. And this is even though the military's operating budget has been cut by 25% this year. I foresee expanded military service being the norm here - which is one way to keep the unemployed youth "out of trouble."
Scataphagos - your list seems about right. There will be a seesaw of spending and austerity, with severe political consequences to the party of "austerity" but even the spending party won't be immune.
It will continue until it implodes.... and then god knows what the political fallout will be.
Random.Capital - I agree with you 100%. Even surplus trade countries under austerity will feel effects. This is truly global - and austerity/contraction is the ultimate consequence.
I believe it can be put off temporarily by inflating, but eventually, every country will cut spending or destroy their currency in the process - which leads to cut spending/economic contraction.
Funny story that happened about a month ago before I got here:
In a nearby town - the second largest on the island, a group of protesting leftists tried to stop a ship from docking at the harbor. They kept blocking the dockworkers from tying the boat down and basically wanted to make a political statement by kicking the ship off the island.
Well, whenever a ship comes to port, the local taxi drivers line up their cars to pick up passengers dropping off. The taxi drivers, watching their biggest income for the day being vulnerable, got really upset. A fight ensued between the taxi drivers and the protesters. One protester was thrown in the harbor by the taxi drivers! ( I heard no one was hurt)
The taxi drivers won the fight - the ship docked successfully. People take matters into their own hands here - no police action that I am aware of. Everyone knows everyone else and things get resolved one way or the other.
