Greece: Nothing Left to Cut

Austerity implementations have led to a record high unemployment rate amongst Greece citizens; an astonishing 18.2 percent are now unemployed as the country delves deeply into a seemingly endless abyss of a recession.

Quite simply put, Greece has run out of options. If they cut another job or reduce another salary, the teeming hordes could descend into civil war.

“That's enough, we can't take it anymore!” 

This was one of the popular chants taking place in Athens yesterday as protesters came together in another 24-hour strike against Greece's recent austerity actions.

In further attempts to keep the economy going, Greee continually seeks new ways to cut spending and instigate further reductions.

Overnight, an additional 15,000 job cuts were officially announced. Protesters responded in rage, as police resorted to tear gas and clubbing strikers to control the frenzied mob.

Fear is escalating but many people haven't even fully realized what's going on yet according to George Pantsios, an electrician for the nation's public power corporation. Since August, Mr. Pantsios has only been earning half of his €850 monthly wage.

George Pantsios warned, "But once we all lose our jobs and can't feed our kids, that's when it'll go boom and we'll turn into Tahrir Square."

Meanwhile, Prime Minister Lucas Papademos is working towards accumulating more bailout money with a reforms package on the way.

A recent newspaper headline referenced lenders' demands to slash another 15,000 civil servant jobs and reduce minimum wage by 20 percent by the year's end, putting the prime minister under even greater pressure.

Demonstrators say that further reductions will kill any hope for growth: 

"We're already bankrupt. This new agreement will simply be our tombstone and the meeting will be the final curtain of this play," said Corinna Panopoulos, a state psychologist who demonstrated outside the parliament building.

As businesses are forced to close shop, many owners struggle between a desire to go abroad to find work and a desire to fight for their country.

Although the major reductions are cutting deep, Greece's creditors aren't satisfied. Without replenishing funds, the financial crisis is affecting other countries also fearing for the future of economic growth and stability.

It's not just Greece's problem anymore...