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This Graphic Shows What Greek Austerity Would Look Like in the U.S.

1 minute read
By Heather Jones

Over the past few years, Greece has struggled to stay financially afloat, relying on bailout packages since 2010 from the European Union, the International Monetary Fund and the European Central Bank to prevent total economic collapse. The rescue funds provided to the beleaguered Mediterranean country came with strict requirements: Greece had to impose harsh spending cuts, raise taxes and lay off public sector employees. These steep cost-cutting, or austerity, measures have become increasingly controversial.

Greek Prime Minister Alexis Tsipras has repeatedly blamed the “austerity experiment” for the country’s skyrocketing unemployment and poverty levels.“This has exhausted the patience and resilience of the Greek people,” he told the European Parliament in Strasbourg on Wednesday.

To put those austerity measures implemented by Greece since 2010 in perspective, here’s how similar cuts would impact the U.S. Read more about that here.

TIME

Witness Scenes from Athens After the Referendum

Supporters of the "No" vote wave Greek flags after the referendum's exit polls at Syntagma square in Athens, Sunday, July 5, 2015.
Supporters of the "No" vote wave Greek flags after the referendum's exit polls at Syntagma square in Athens on July 5, 2015. Emilio Morenatti—AP
People celebrate in front of the Greek parliament as early opinion polls predict a win for "No" campaign, which won with more than 60 percent of the vote.
People celebrate in front of the Greek parliament as early opinion polls predict a win for the "No" campaign in Athens on July 5, 2015.Christopher Furlong—Getty Images
Tens of thousands of Greeks came to the city center of Athens to celebrate the victory of the "No" campaign.
Tens of thousands of Greeks came to the city center to celebrate the victory of the "No" campaign in Athens on July 5, 2015.Michael Debets—Demotix/Corbis
Greek special forces members guard the Parliament in Syntagma Square after the referendum in Athens.
Greek special forces members guard the Parliament in Syntagma Square after the referendum in Athens on July 5, 2015.Armando Babani—EPA
Riot policemen guard an entrance of the parliament as supporters of the No vote celebrate after the results of the referendum at Syntagma Square.
Riot policemen guard an entrance of the parliament as supporters of the No vote celebrate after the results of the referendum in Athens on July 5, 2015.Petr David Josek—AP
"No" supporters celebrate the referendum results on a street in central in Athens.
"No" supporters celebrate the referendum results on a street in central in Athens on July 5, 2015.Alexandros Michailidis—Demotix/Corbis
A masked youth throws a petrol bomb at riot police during minor clashes in central Athens, Greece July 5, 2015. Greeks voted overwhelmingly "No" on Sunday in a historic bailout referendum, partial results showed, defying warnings from across Europe that rejecting new austerity terms for fresh financial aid would set their country on a path out of the euro. REUTERS/Marko Djurica
A masked youth throws a petrol bomb at riot police during minor clashes in central Athens on July 5, 2015. Marko Djurica—Reuters
Riot police detain masked youth during minor clashes in central Athens, Greece early July 6, 2015.
Riot police detaining masked youth during minor clashes in central Athens on July 6, 2015. Marko Djurica—Reuters

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