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Clashes have erupted in the capital of Greece during protests marking six years since police shot dead an unarmed teenager.  At least 5,000 demonstrators marched in Athens on Saturday. Some attacked shops and hurled petrol bombs at riot police.  Police officers used tear gas and a water cannon to disperse protesters.  The demonstrators had been marking the anniversary of 15-year-old Alexis Grigoropoulos' death. He was shot by an officer who has since been jailed.  Mr Grigoropoulos' killing on 6 December 2008 sparked violent riots across Greece, with cars being set alight and shops looted in a number of cities.  Clashes have also broken out on previous anniversaries of his death.  On Saturday, anti-establishment protesters attacked banks and damaged shops and bus stops.
At one point, demonstrators looted a clothes shop and set fire to the merchandise in the street, the Associated Press news agency reported.  According to Reuters, police said they detained close to 100 protesters.  Clashes primarily took place in Athen's Exarchia neighborhood, but violence was also reported in Thessaloniki, in northern Greece.   No injuries were reported in either city.
The ECB is already buying asset-backed securities (bundles of bonds) in an attempt to stimulate lending. This of course will not lead to a credit expansion as all it accomplishes is to add to bank reserves and banks do not lend bank reserves to commercial clients, ever.  QE has no measurable impact on aggregate demand and a shortfall in aggregate demand is the problem with the EMU economies. This has been beyond dispute for over 7 years now in some nations and yet nothing has been done to address this shortfall which is manifested in massive unemployment, massive underemployment, increased poverty, social breakdown political instability.
The mindless devotion to monetary policy actions has proven to be ineffective across both time and geography in stimulating economic activity, yet the Troika will not accept reality.
Expansionary fiscal policies directed at employment rich activities such as health care, education, infrastructure and the advancement of the public good is what is called for.