The Youth are Revolting

In Greece, the lefties are having their Government handouts cut and they do not like it. From the Los Angeles Times:

Violent May Day protests in Athens
Wielding red flags and hurling crude gas bombs, dozens of militant youths clashed with riot police Saturday in central Athens, signaling swelling social unrest as the cash-strapped Greek government prepares to announce additional austerity measures required to win rescue loans from the European Union and the International Monetary Fund.

The clashes came during massive May Day protests called by Greece's powerful trade unions and left-wing political parties in a desperate bid to block the plans for additional wage cuts, tax increases and pension reductions.

"The bill should go to those who looted this country for decades, not to the workers," said Spiros Papaspirou, head of Greece's powerful Adedy civil servants union. "This is the most savage, unjust and unprovoked attack workers have ever faced."

Emphasis mine -- not so fast Spiro. Sure, the Greek government was corrupt and weak but... Your labor unions are directly responsible for this. There was no grand theft of the Greek money by a handful of corrupt politicians and plutocrats, it was instead promised away bit by bit with your over-unity pensions and all of your "social justice" programs. Robert D. Kaplan wrote these words at The Atlantic in December of 2008 and gives a bit of background:

Those Greek Riots
Greece has been torn apart by the worst riots in decades, now entering their third week. Bands of self-declared anarchist youths have rampaged through the streets of Athens and other major cities causing hundreds of millions of dollars in property damage, setting off a spiral of unrest in which the nation�s unions, among other groups, have taken part. Both shops and hotel lobbies have been ransacked, and hospitals, airports, and transport have been brought to a standstill. What sparked the riots was the accidental police shooting of a 15-year-old boy, Alexandros Grigoropoulos. But as usual in such cases, there was much more in the way of causes lying beneath the surface.

Youth unemployment is high throughout the European Union, but it is particularly high in Greece, hovering between 25 and 30 percent. With few job prospects, rampant poverty in the face of nouveau riche prosperity, a public university system in shambles, a bloated government sector in desperate need of an overhaul, and a weak, defensive conservative government with only a one-seat majority in parliament, it is a ripe period for protests, which have had as their aim the fall of Prime Minister Costas Karamanlis.

No wonder the whole world is watching. If Greece fails, the Euro is weakened which impacts the rest of Europe. Portugal and Spain are next up with their socialist history and plethora of over-unity pensions. I am using the term over-unity to describe a situation where a worker contributes maybe $200,000 toward their pension plan but upon retirement, will be eligible for much more in terms of payment and benefits -- not sustainable. Margaret Thatcher had this thought:

"The trouble with socialism is that you eventually run out of other people's money."