What’s up, Europe? Mass protests in Greece and Spain

Wednesday, September 26, 2012 - 14:19 Ian Waldie/Getty Images The image of Queen Elizabeth II on a 20 sterling note is seen between euro banknotes in London. The summer optimism over Europe’s debt crisis seems to be fading. Two days of protest and unrest in Spain and a general strike in Greece have cast a pall over the drive to save the Euro. And it had all been going so well. The European Central Bank had unveiled a plan to help the Eurozone’s stricken economies with a blitz of unlimited government bond-buying. The Germans had finally given their blessing to a new bailout fund. Investors had roared their approval and stockmarkets had taken off. But now the people of Spain and Greece are delivering their verdict on the rescue plan and it is not a reassuring one. The people do not like the strings attached to the help on offer: more cuts in healthcare, welfare and public sector salaries. In other words, more austerity and another plunge in living standards. Even the head of the Chamber ...

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