Europe's Rising Anger: From Greek Teacher Strikes to Belgian Housing Protests

A wave of social unrest is spreading across Europe, driven by rising costs, stagnant wages, and a housing crisis, with protests and strikes planned from Greece to Belgium. The movement reflects a deep-seated public distrust of government policies amid a new inflationary shock. In Greece, teachers are striking over wages, with nearly half earning under 1,000 euros a month and purchasing power down 60%. Italy has seen mass protests against the high cost of living and military spending, while Spain and Portugal are preparing for a general strike on November 11th. Housing costs are a key driver, with prices up 55% since 2010, and a two-room apartment in Spain or Portugal consuming over 80% of a young adult's median salary. The current crisis is worse than 2022 because the labor market has weakened and wage growth of 2.7% lags behind inflation of 3.8%, which is fueled by the Iran war and the closure of the Strait of Hormuz. Governments say high public debt and rising interest rates prevent them from offering new relief measures, leaving a widening gap between the cost of living and people's means.