Angry young Greeks give wake up call to Europe

By Daniel Flynn - Analysis

ATHENS (Reuters) - The ferocity of rioting by frustrated young Greeks shocked many across Europe but provides a warning to the continent's leaders as they discuss ways to confront the global economic crisis.

Seven days of protests, which caused hundreds of millions of euros of damage across 10 Greek cities, were triggered by the police shooting of a teenager on December 6 but fed on resentment at high youth unemployment, low salaries and inadequate welfare.

They have sparked sympathy protests from Moscow to Madrid, some quickly organized over the Internet or by SMS message, as many young people feel leaders are ignoring their frustrations.

"It's time they listened to the people. We're shouting 'look at the mess we're in'" said teacher Stella Nicolakakos, 35.

Economists say EU leaders, putting the final touches to a 200 billion euro stimulus plan in Brussels, should brace for more outcry as Europeans find their jobs jeopardized after a decade of growth which created expectations of prosperity.

"Most of Europe thought they'd be immune to the crisis and they've woken up late to the fact that they're not," said Vanessa Rossi, economics researcher at Chatham House in London. "The implications for several countries are not good, both in terms of recession and social unrest."

In Spain, where the EU's highest unemployment rate is tipped to reach 20 percent as the crisis deepens, youths attacked a bank and a police station in Madrid and Barcelona following protests over the Greek shooting. In Rome and Copenhagen, leftist protestors pelted police and damaged property, while in Moscow youths hurled firebombs at the Greek embassy.

In France, two cars were set alight in front of the Greek consulate in Bordeaux on Thursday. "The Coming Insurrection" and "In support of the Greek fires," said graffiti near the blaze.

"Look what is going on in Greece!" French President Nicolas Sarkozy told members of his UMP party, rejecting budget proposals which would have cushioned the wealthy from losses.

With memories fresh of weeks of suburban rioting in 2005, Sarkozy expressed concern the anti-government backlash could spread to France: "The French love it when I'm in a carriage with Carla, but at the same time they've guillotined a king."

"OVERWORKED, UNDERPAID, DEBT-RIDDEN"

Many factors behind the Greek riots are unique, including the subculture of anarchists thriving in districts like Athens' Exarchia, where the trouble began. A history of violent policing also made Greek authorities reluctant to risk a strong response.

But other aspects stem from economic problems facing the whole of the 27-nation bloc, causing concern among investors.

"What's happening in Greece, I fear will spread to the rest of Europe as unemployment rises," said leading Portuguese businessman Joao Talone, calling for softer economic policies.

Greece's headline unemployment rate -- which rose to 7.4 percent in September -- is actually just below the euro zone average. The key factor, however, is unemployment among youths.