WASHINGTON — To cut costs, the Greek government abruptly shut down its state television network ERT, based in the Greek capital city of Athens.
The station, according to Reuters, was shut down by the government in order to cut costs. As a result, protesters and demonstrators voiced their displeasure and forced a government concession.
The ERT will be relaunched in a couple of weeks as soon as its internal matters are sorted out and will be a slimmer (i.e. understaffed) version of the state TV network from decades past.
The recent economic woes of the eurozone and European Union in general have affected many facets of daily life. Spain is suffering from a high number of robberies and black market warehouses, while unemmployment remains high throughout the eurozone.
Greece is not faring much better and has threatened to bring down the eurozone because of its 177% debt-to-GDP ratio, which is impossible to maintain and be afloat financially. It also does not help that it loses up to 5% of its GDP from tax evasion.