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Is Europe facing its own “Bear Stearns” moment? That was the question hanging over the markets on Wednesday as the sense of uncertainty spread. The AFP reports that three people were killed in a firebomb attack on a bank in central Athens on Wednesday during a demonstration. Twenty others were being evacuated from the building. It’s obvious that the firebombing is the result of the major economic crisis in Greece. People are upset, they fear that their futures, which once seemed so bright, are being taken away from them or at the very least clouded in darkness. This truly is a country on the brink of collapse. We can only wonder what its impact will be on the Euro and, of course, on the European Union as a whole.

"All of us are angry, very, very angry," bellowed Stella Stamou, a civil servant standing on a street corner, screaming herself hoarse, a block away from where the bank had been set alight. "You write that – angry, angry, angry, angry," she said, after participating in one of the biggest ever rallies to rock the capital since the return of democracy in 1974. "Angry with our own politicians, angry with the IMF, angry with the EU, angry that we have lost income, angry that we have never been told the truth.

Across Athens today the signs of that anger were everywhere: in the central boulevards and squares that resembled a war zone, the burning cars, the burning hotels, the burning government buildings and rubbish bins and shattered windows and pavements. What had started as a general strike called by unions to protest against deeply unpopular austerity measures turned into a tidal wave of fury as an estimated 100,000 private and public sector workers took to the streets screaming "let the plutocracy pay".

"Why should we, the little man, pay for this crisis?" said Giorgos Didimopoulos. "What people forget is that we Greeks don't like authority. We have always resisted when we think something is unfair. We fought against the Persians at Marathon, the Germans during the second world war and we will fight the IMF because in reality we no longer have a government. It is foreign forces who are in charge of us now."

 






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