Greek Unions Take To The Streets To Protest Agreement

The reaction of those affected by the imposition of austerity that will force Greek citizens to accept a lower standard of living, is not surprising. Its government is also in a bind. Supporters of the recent agreement with the troika that controls the funds needed in March to deal with $19 million of maturing debt will have a hard time winning the looming election. On the other hand, Greece's creditors want some assurance that the country will be able to manage its debt. Greece is caught between a rock and a hard place. Leaving the eurozone would have terrible consequences, but having a lower standard of living imposed by outside forces also has bad consequences. There are no easy answers. My concern is that it will be difficult in any country for a democratic process to take strong measures that may be needed to resolve economic problems.