Athens on fire – consequences of credit agreement

According to Reuters, fires continue in the capital of Greece – participants of mass riots have set fire to shops, cafes, cinema houses and banks. The police have used tear gas to disperse the crowds of protesters; dozens of people have been detained. The police have prevented an attempt to seize the city hall.

Let us remind you that the Greek Parliament approved the credit agreement with the European Union and the International Monetary Fund on Monday night. According to it, 130 million euro will be allocated to Greece. Experts think that the country will face a default without the money. However, accepting creditors’ terms will lead to rigid economy in Greece and demonstrators are protesting against it.

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