The initial round of mass public sector layoffs, wage cuts, and destruction of welfare and social infrastructure programs impoverished wide layers of the Greek population, but failed to satisfy the European banks. They are now demanding control over the country’s economy, with representatives of the ECB, IMF, and EC (the so-called troika) to be placed directly in charge of a privatisation program that will see Greece’s public assets sold off and the proceeds funnelled to the banks.
http://www.wsws.org/articles/2011/may2011/gree-m31.shtml
