Greeks protest over austerity measures
Source: Agencies |
May 2, 2010, Sunday
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TENS of thousands of protesters gathered in central Athens and other Greek cities yesterday for May Day rallies fueled by anger at expected harsh austerity measures needed to secure rescue loans for the near bankrupt country.
The government is set to announce sweeping spending cuts to win support for an international loan package worth 45 billion euros (US$60 billion) this year alone. The cabinet was to meet this morning to finalize the measures, with Finance Minister George Papaconstantinou expected to announce them at noon and then fly to Brussels for an emergency meeting of eurozone finance ministers.
The International Monetary Fund has said it will provide the money over three years, along with Greece's partners in the eurozone. IMF and EU negotiators began talks in Athens on April 21.
French Finance Minister Christine Lagarde said yesterday after a meeting of French government officials that she was confident eurozone finance ministers would approve the package. Governments were discussing a package of up to 120 billion euros (US$159 billion) over three years, she said.
Greece's austerity measures are likely to include raising consumer taxes, while docking pensions and public service pay. Unions are furious and called on workers to rally in central Athens yesterday.
"These measures are death. How people are going to live tomorrow, how they're going to survive, I do not understand," said one worker.
Union members were marching toward the Athens offices of the European Union and continuing to the US embassy. Minor clashes broke out between rock-throwing anarchists and police.
In the northern Greek city of Thessaloniki, where more than 5,000 people demonstrated, anarchists briefly clashed with police and smashed storefronts and ATMs.
Conservative opposition party New Democracy and the right-wing LAOS have been critical of the government but are likely to support the austerity measures.
The government is set to announce sweeping spending cuts to win support for an international loan package worth 45 billion euros (US$60 billion) this year alone. The cabinet was to meet this morning to finalize the measures, with Finance Minister George Papaconstantinou expected to announce them at noon and then fly to Brussels for an emergency meeting of eurozone finance ministers.
The International Monetary Fund has said it will provide the money over three years, along with Greece's partners in the eurozone. IMF and EU negotiators began talks in Athens on April 21.
French Finance Minister Christine Lagarde said yesterday after a meeting of French government officials that she was confident eurozone finance ministers would approve the package. Governments were discussing a package of up to 120 billion euros (US$159 billion) over three years, she said.
Greece's austerity measures are likely to include raising consumer taxes, while docking pensions and public service pay. Unions are furious and called on workers to rally in central Athens yesterday.
"These measures are death. How people are going to live tomorrow, how they're going to survive, I do not understand," said one worker.
Union members were marching toward the Athens offices of the European Union and continuing to the US embassy. Minor clashes broke out between rock-throwing anarchists and police.
In the northern Greek city of Thessaloniki, where more than 5,000 people demonstrated, anarchists briefly clashed with police and smashed storefronts and ATMs.
Conservative opposition party New Democracy and the right-wing LAOS have been critical of the government but are likely to support the austerity measures.
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