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Meltdown

Meltdown: Paying the price

As the toll of the financial crisis continues to mount, many are looking for its true causes - and finding a crime.

Last updated: 18 Jul 2014 13:02
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The years since the 2008 collapse have been marked by demonstrations around the world, owing to the loss of an estimated 30 million jobs.

In many places there were violent street protests. Some were easily weathered by governments and large corporations. But in other countries the struggle went much further and left a lasting mark.

In the third episode of Meltdown, we look at the aftermath of the financial crash, as job losses amounted across the globe and some of the victims started to fight back.

In Iceland, a protesting singer, Hordur Torfason, led the way in holding demonstrations over his country's economy, calling for the resignation of the government and new elections.

Geir Haarde, the prime minister of Iceland, was surrounded and pelted by the protesters. Haarde soon resigned and the country's government collapsed.

Meanwhile, in France, workers fought back to claim their rights.

The Continental Tire factory announced its plant would close by 2010, meaning job losses for its 1,120 employees. Workers occupied offices and trashed the place in protest. Protests spread right across France and Europe.

As the grim toll of the financial crisis continued to mount around the world, many governments looked for the true causes of the meltdown. In many cases, what they discovered amounts to a crime.

Meltdown is a four-part series on the secret history of the global financial collapse.                       

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Source:
Al Jazeera
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