October 20th, 2011
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Greece enters second day of protest

Greece protest  Athens: Greece entered its second day of protest even as the parliament takes a final vote on the new tough austerity measures. The agitation between the protestors and the police continued overnight in Athens. The 48-hour strike continues with workers in virtually every sector of the economy participating.

Civil servants, shopkeepers, dock workers, taxi drivers, doctors, lawyers, teachers, construction workers and others would continue to provide their services. Parliament is expected to approve the articles of an austerity bill after giving it preliminary approval in a first vote. Protesters have said they will continue their rally on Syntagma Square in front of the parliament while the vote takes place.

The draconian bill includes tax hikes and pay cuts to convince the EU and IMF to continue bailout loans. There are plans for further cuts to pensions and salaries and temporary lay-offs of 30,000 public sector workers.

Greece is saddled with a huge public debt and their economy is in deep recession. They are unable to borrow long term on international bond markets to finance its debt. The EU and IMF have stepped in with two bailout packages but they have demanded tough action to cut the deficit, which has angered many in Greece who say the medicine is killing the patient.

 

 

 

 

 

 

 

 

 



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