Massive Protest in Athens Immobilizes Public Services

Created: 2011-05-12 03:13 EST

Category: World > Europe
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Anger in Athens as another 24-hour strike takes place.

 

The walkout by tens of thousands of union members grounded public transport, closed schools and left hospitals operating with skeleton staff.

 

It's in protest at government wage cuts, tax rises and a longer working week.

 

Job losses are also an issue with unemployment at 15 percent and the economy contracting - last year by 4.5 percent and this year by a possible further 3 percent.              

 

[Nikos, Student]: 

"With these measures nothing changes. The only thing that changes is that people are getting poorer. Everything that has been accomplished in the past for workers rights is now being taken away."

 

[Helen Hollidou, Pensioner]: 

"They are really destroying our lives with these measures, people need to come out onto the streets in their millions. How much more can the people bear? And there are more, tougher measures coming."              

 

That certainly seems likely - Greece's Finance Minister is meeting with officials from the EU and International Monetary Fund.              

 

The inspectors will spend a week looking at the country's deepening debt crisis, assessing whether the government is on target to meet the terms of the bailout.              

Some reports suggest Greece needs another 60 billion euros on top of the 110 billion loaned to them a year ago.              

But they may not even get the fifth 12 billion tranche of the first loan if it looks like they can't keep to the terms of the current deal.              

 

Euro zone finance ministers will debate the crisis next week.              

 

And although markets seem to be taking it in their stride at the moment one Frankfurt trader said Greece was hanging over the stock exchange like a "Damoclean sword."              

 

[Oliver Roth, Analyst and Banker for Close Brothers Seydler Bank]: 

"There are certain risks, but I think it is important that the European Union actively pursues the conversion of debts, so the situation can be kept under control, otherwise the financial markets will dictate the next steps."              

 

The opinion of the Greek public is crucial too.              

 

They've largely supporting their government but polls show their popularity is now slipping and some analysts say that's when the trouble really begins.

 

Tags: greece  protest  union  strike  government  walkout  deficit  debt  measures  EU  bailout