Answer:
Austerity in reference to economic policy means deficit cutting, lower spending, and a decrease in public services provided. The Greek government has had to undergo austerity policy recently because the government was nearing backruptcy and could not afford to pay back its debts. The European Union has saved the country from going bankrupt by providing aid money. But Greece must now make a lot of budget cuts and change lifestyles to adapt to the new policies and to resustain itself economically as a country.
The people are protesting cuts to education spending and public services that they do not agree with or desire.