Greece’s financial turmoil

Angered by measures being imposed to save the economy, protesters have taken to the streets [AFP]

Thousands of protesters have clashed with police on the streets of Athens. They were rallying against the measures being imposed to save the Greek economy.

It is the second general strike in the last two weeks.

Flights, buses and ferries have all been cancelled. Schools and government offices are closed and hospitals are operating with emergency staff only.

The Greek government is being forced to act by the European Union.

Its growing public deficit is already over 12 per cent – which is four times what the EU allows for its members. Greece’s national debt also stands at almost $420bn.

Just what are the root causes of the financial crisis in this EU member state? How is it going to affect other countries? And will we see the Union save Greece, or let it sink?
 
Inside Story, with presenter Imran Garda, discusses with guests: Kostas Ifantis, the president of the Hellenic Centre for European Studies (EKEM), John Sfakianakis, the chief economist and general manager at Banque Saudi Fransi, and Max Keiser, a financial analyst.

This edition of Inside Story can be seen from Wednesday, February 24.