The Greek Parliament, under heavy guard from riot police, on Sunday approved a set of bills setting out the details of fresh austerity policies and structural reforms linked to the country's quest for a second bailout as violence once again rocked the streets of the capital.
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The votes are in and Greece's politicians have chosen in favour of an austerity plan paving the way for a second bailout. But can the Greek government convince a protesting public to accept austerity measures?
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On Monday the Greek Parliament voted to approve another round of austerity measures. Now the Eurozone finance ministers have started to formulate a bailout plan for the financially distort Greek economy. In the approval 15000 public sector jobs were cut and a decrease on the national minimum wage was passed. This led to thousands of Greeks hitting the streets in protest to the Parliament's decision. Demetri Kofinas, producer for Capital Account, joins us for more on Greece. Like us and/or follow us: twitter.com www.facebook.com
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www.StockMarketFunding.com Dow Jones Industrial Average vs Austerity Measures Greece & Italy. Greece submits austerity budget, but political differences surface in coalition. Greece's new government took a first step on Friday towards meeting terms of an international bailout needed to avoid bankruptcy, submitting a budget bill that foresees no new austerity measures next year as long as reforms are enacted. The draft predicted the Mediterranean state would face a fifth year of recession but said a plan to convince private creditors to take a 50% loss on bond holdings could cut the fiscal deficit by more than a third. Economists said years of swingeing tax hikes, public salary and pension cuts and other belt-tightening measures could send the economy deeper into contraction and the draft spending plan's forecasts are probably too optimistic. The budget draft forecasts the 220-billion-Euro economy to shrink 2.8% in 2012, versus 5.5% this year. But analysts point to a rift between parties in technocrat Prime Minister Lucas Papademos's unity coalition caused by jockeying for position by the conservative New Democracy party ahead of an election slated for Feb. 19. Papademos must win pledges from the rival parties that they will do what it takes to meet bailout terms or Greece's lenders will withhold an 8-billion-Euro aid tranche Athens needs to dodge default next month, plus longer-term financing later. As part of that process, representatives from the "troika" of the <b>...</b>
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Read more on.rt.com In another vital European election, Greek voters have protested against the country's major parties, but have not left any group with enough support to govern alone. Athens may be forced to hold another election if party leaders can't strike a coalition deal soon. Attorney and Professor of Constitutional Law, George Katroungalos, says the election results are a reaction to Greece's harsh austerity measures. RT on Twitter twitter.com RT on Facebook www.facebook.com
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In Athens thousands of Greeks have gathered to demonstrate their opposition to the new property tax that was passed by government. The people of Greece don't find it fair that they should be the ones to bail the country out of its debt crisis. Sara Firth gives us the latest. Follow Kristine on Twitter at twitter.com
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Thousands of Greek citizens took to the streets of Athens once again throughout Sunday, protesting painful austerity on the eve of a crucial eurozone meeting in Brussels that could determine Greece's salvation from financial meltdown in March and its future in the common currency zone. At the city's main square youths threw rocks and flares at riot police, prompting law enforcement to disperse the crowd by firing tear gas. Some 60 people have been detained, according to a police official. RT on Twitter twitter.com RT on Facebook www.facebook.com
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It's been a tough night in Brussels where Eurozone ministers have reached a deal on a second bailout for Greece. It took them several hours to agree on the one-hundred-and-thirty-billion euro cash injection, expected to save the country from default. Earlier the Greek Parliament went through a storm of public outrage and several internal conflicts to approve the austerity measures demanded by international creditors. RT on Twitter twitter.com RT on Facebook www.facebook.com
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Even with the austerity deal reached by Greek leaders on Thursday, old and new challenges still must be faced.
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For more analysis, visit: www.stratfor.com Analyst Marko Papic examines the upcoming parliamentary vote on Greek austerity measures and cautions that the real threat to the eurozone is likely to come from Italy and Spain.
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The 77 year old man could take the austerity measures no more so he committed suicide via handgun outside the Greek parliament sparking fresh waves of rioting. Follow me @taotst on twitter.
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democracynow.org - Greece continues to face political turmoil over a sovereign debt crisis that has embroiled the country for almost two years. On Monday, the Greek government said it would hold new elections in the face of massive demonstrations against a new austerity package that was approved on Sunday in exchange for a European Union-International Monetary Fund bailout. Under the austerity deal, Greece will fire 15000 public sector workers this year and 150000 by 2015. The minimum wage will be reduced by 22 percent and pension plans will be be cut. As lawmakers voted, 100000 people protested outside the parliament building in Athens. Some protesters engaged in rioting, looting and setting fire to dozens of stores and buildings. Some 160 people were detained and dozens were treated for injuries. To discuss the latest in Greece, we're joined by Maria Margaronis, London correspondent for The Nation magazine. She was in Greece last week covering the economic crisis there. Margaronis says Greece faces an "impossible choice" to "either default on its loans by March when it owes a massive loan payment, or to accept this desperate austerity program, which will further sink the economy. ...The Greek people have really had enough of this: People are exhausted and desperate. On the street in Athens, there's a sense of everything breaking down." Towatch the complete daily, independent news hour, read the transcript, download the podcast, and for the additional Democracy Now <b>...</b>
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RussiaToday--Apr 4, 2012-- www.zerohedge.com Struggling with money has proven to be an unbearable burden for a Greek pensioner - who has shot himself dead in a square in central Athens. It's just one of a string of suicides across the EU, caused by financial desperation and the continuing, harsh austerity measures. RT's Tesa Arcilla reports from Brussels. Copyright Russia Today 2012 "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."
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Greece faced an escalating political crisis Thursday, with critics in the governing Socialist party in open revolt over harsh austerity measures. (June 16)
What is Peter Schiff smoking? Maybe be he should give that Crack to the poor Greeks.
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Greeks have voted heavily against austerity measures in Sunday's parliamentary poll. The country's two main political parties, both backers of the eurozone's stringent bailout scheme, suffered a dramatic fall in support. With no outright majority, the next government will most likely be a coalition. Al Jazeera's Barnaby Phillips reports from Athens.
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Demonstrators set buildings ablaze and fireballs lit up the night sky in Athens, Greece shortly before Greek lawmakers passed harsh austerity measures designed to prevent the country from going bankrupt. (Feb. 12) Subscribe to the Associated Press: bit.ly Download AP Mobile: www.ap.org Associated Press on Facebook: apne.ws Associated Press on Twitter: apne.ws Associated Press on Google+: bit.ly
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Rocks, molotov cocktails and tear gas flew threw the air Friday as protesters and police clashed in the streets of Athens, Greece. The violence erupted at the start of a 48-hour general strike against new austerity measures imposed by eurozone finance ministers that would further cut jobs and pay. The Greek parliament is expected to vote on the harsh austerity plan by Sunday or Monday.
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From the UK to Greece, one thing is clear - we are only beginning to see the public outcry over this global economic downturn - and the mood is only getting worse. Financial journalist Demetri Kofinas shares his thoughts with RT from on the ground in Athens Follow Kristine on Twitter at twitter.com
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Buildings burned in central Athens this morning after black-masked protesters fought Greek police outside parliament, while inside MPs looked set to defy the rage by endorsing a new EU/IMF austerity deal. Riots spread across central Athens after some 80000 protesters massed outside parliament and in the nearby Omonia Square, with some 3000 police deployed. Another 20000 protesters were gathered in Greece's second city Thessaloniki. The violence outside parliament died down as the vote approached, but riots spread to nearby areas. Historic cinemas, cafes and shops went up in flames as Greek riot police struggled to pin down gangs of protesters. A Reuters photographer saw the buildings engulfed in flames and huge plumes of smoke rose in the night sky as youths fought with police outside the parliament. There were reports of dozens of people being injured.
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The debt-ridden EU has suffered another blow from ratings agencies. Moody's has downgraded the debt ratings of six EU states - including vulnerable Portugal, Italy and Spain. It comes as the bloc struggles to prevent Greece from default by offering bailouts in return for more austerity. But as RT's Jacob Greaves reports, more and more Greeks feel the measures will only make things worse. RT on Twitter twitter.com RT on Facebook www.facebook.com
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Over 100000 protestors rioted in Athens after the Greek government approved tough new austerity measures. This legislation was a precondition for a new rescue loan from the International Monetary Fund (IMF). After the latest austerity measures, the Greek government will receive 130 billion euros. Protestors marched toward Parliament to rally against the austerity changes, which will effect the layoff of 20% of government workers and descrease salaries by about as much. At least 10 buildings were set on fire and burned, including banks and cafeterias. Greece's prime minister, Lucas Papademos, told Parliament, "Vandalism and destruction have no place in a democracy and will not be tolerated."
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Greek anger over new austerity measures and layoffs erupted into violence outside parliament on Wednesday, as demonstrators hurled chunks of marble and gasoline bombs and riot police responded with tear gas and stun grenades that echoed across Athens' main square. Police said at least 14 officers were hospitalised with injuries, and at least three journalists covering the demonstrations sustained minor injuries. The violence spread across the city centre, as at least 100-thousand people marched through the Greek capital on the first day of a two-day general strike that unions described as the largest protest in years. Most of the protesters marched peacefully, but crowds outside of parliament clashed with police who tried to disperse them with repeated rounds of tear gas. Hundreds of rioting youths smashed and looted stores in central Athens on Wednesday after the mass anti-government rally against the new painful austerity measures. Police and rioters held running battles through the narrow streets of central Athens, as thick black smoke from burning rubbish and bus-stops set ablaze filled the city's skyline and obscured its ancient monuments. A gasoline bomb set fire to a presidential guard sentry post at the Tomb of the Unknown Soldier outside Parliament, while running clashes broke out in several side streets near the legislature and the capital's main Syntagma Square. Nearby, groups of hooded, masked protesters tore chunks of marble off building fronts with hammers <b>...</b>
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Greek riot police have used tear gas to disperse the crowd of raging rioters throwing petrol bombs and stones. Greece is at a standstill once again, with people venting their anger at more cuts, which the EU is demanding in return for vital funds. Read more on.rt.com RT on Twitter twitter.com RT on Facebook www.facebook.com
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Greek riot police have fired tear gas to disperse rioters throwing petrol bombs and stones, as thousands protest in the capital, Athens, against new austerity measures.
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The Spanish government is proceeding with deep budget cuts despite stiff popular resistance, but will these alone be enough to prevent its financial problems from spreading within the EU? Guests: Edward Hugh, David Lizoain, Vincenzo Scarpetta.
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As the Greek debt crisis continues, foreign leaders are continuing to put pressure on the Greek government to further implement austerity measures. Over the last year the country has seen a rise in tax rates and VAT, a cut in public sector wages in exchange for bailout loans from the international community. Many of these austerity measures have not been very fruitful and have sparked mass protests throughout Greece. The Greek population it seems are no longer willing to accept any more austerity measure.
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While US lawmakers debate as to whether or not austerity is the right path to take, in Greece, the decision has been made. In order to secure a second bailout of over at least 130 billion Euros, the Greek Parliament this weekend passed a series of strict austerity measures. And Greece has reacted with massive protests and riots. Capital Account's Demetri Kofinas and Nomi Prins author of "Black Tuesday" discuss.
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Portugal is preparing for a general strike, as trade unions try to rally opposition to the government's austerity measures. The Portuguese economy is mired deep in recession, as many economists predict it will follow Greece and have to ask European partners for a second emergency bailout. A group of activists have made a protest video, in which they say the government's austerity measures are threatening the social gains of the past 35 years. Al Jazeera's Barnaby Phillips reports from Lisbon.
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PART: 2 of 3 "THIS WAS NOT SUICIDE...THIS WAS GOVERNMENT MURDER!" (ATHENS, GREECE) 4 April 2012 Dimitris Christoula's public suicide in Syntagma square triggered the presence of thousands out in the streets again protesting against the savage austerity measures taken by an indifferent-to-its-people government, which have been driving, systematically, Greeks of all ages to suicide. Greece's suicide rate has reached a pan-European record high, with experts attributing the rise to the country's economic crisis and painful austerity measures. shot & directed by Zafeiris Haitidis edited by Thanassis Totsikas - - - - -
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For more news and videos visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ on.fb.me Hundreds of police and fire-fighters rally against government austerity measures and burn a Nazi flag in front of parliament. The Greek cabinet approved deep cuts designed to bring down Greece's deficit and appease international lenders. Hundreds of police and fire-fighters in their uniforms rallied in central Athens on Tuesday against wage and job cuts introduced by the Greek government as part of a multi-billion euro financial bailout. Police held banners which read "We won't bow down" whilst chanting "Take the austerity package and get out of here. The Police Union Chief says they should be allowed to arrest those responsible for bringing the country so close to bankruptcy. [Christos Fotopulos, Police Union Chief]: "These measures with the cutbacks are going to lead to the degradation of our services that's why we are protesting. And even more so we are fighting so that they will vote for laws so that we will penalize and arrest those people that brought this country to this situation. These handcuffs are for them, so that they are brought to justice and not for us to use tear gas against the protests of other workers. This is not the job of the police." The rally later made its way to parliament where fire-fighters burnt a Nazi flag. On Tuesday Greek ministers agreed deep cuts to the minimum wage, slashing living standards for low-paid workers to meet the <b>...</b>
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Greek politicians' last minute agreement on fresh austerity plans hasn't exactly been greeted with open arms. A 48-hour strike has been called by the country's two major labour unions. And Eurozone member states say they will put even more conditions on Greece before handing over a second bailout. The journalist Stylianos Chrysostomidis says the situation in the country is deteriorating and the consequences could be dangerous. Robert Oulds - chair of the London based think-tank Bruges Group, believes that it's the European currency itself pushing Greece to the edge. RT on Twitter twitter.com RT on Facebook www.facebook.com
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A parliamentary vote on a new package of severe austerity measures prompts an outpouring of violence and vandalism on the streets of Athens.
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www.euronews.net As Greeks took to the streets on Friday to show their anger at austerity measures, several politicians also walked off the job. The industrial action is the first day of a 48 hour general strike organised in response to the deal struck to get the 130 billion euro bailout loan. Six coalition members have handed in their resignation, including George Karatzaferis of the far right LAOS party. The party said it will not vote for the package, which includes reducing the minimum wage and pensions and cutting public sector jobs.
Greek party leaders have sent written commitments to Brussels saying they will stick to the agreed austerity measures even after the general elections in April. There are still EU demands Athens failed to fulfill, which led to the cancellation of a key meeting of Eurozone finance ministers. Greece is still struggling to secure the second bailout from its international creditors, without which it's due to default next month. For more on that RT talks to MEP and leader of the UK Independence Party, Nigel Farage. RT on Twitter twitter.com RT on Facebook www.facebook.com
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