Greece and the IMF

Gerald Celente on Greece: People will rise against bank bailouts globally

Russia Today
May 6, 2010

After a day of unrest which saw three people killed, Greece’s parliament is preparing to vote on the controversial austerity package. Wednesday’s violence included a bank in the capital being set alight. Demonstrators clashed with police when protesters marched on the country’s parliament building. They are angry at government spending cuts aimed at securing a 110 billion euro rescue package from the EU and the IMF. Trend forecaster Gerald Celente says the Greek situation is going global.

Greek strikers challenge bailout-for-austerity deal


Lefteris Papadimas and Kirsten Donovan
Reuters
May 4, 2010

ATHENS/LONDON – Striking public workers challenged the Greek government’s bailout-for-austerity deal with the EU and IMF on Tuesday as investors fretted about Athens’ ability to push through ambitious budget cuts.

The main public sector union, ADEDY, began a 48-hour national strike that shut down ministries, tax offices, schools, hospitals and public services, with thousands of protesters converging on parliament in the center of the Greek capital.

Greek police guarding parliament fired teargas at a small group of protesters who threw rocks and bottles at them.

“We want an end to the freefall of our living standards,” said Spyros Papaspyros, the head of ADEDY, which represents about half a million workers in the Aegean nation of 11 million.

Full story here.

Greek Crisis Turns Deadly Serious; Will the World’s Governments Learn from It?


Mike Larson
Money & Markets
May 7, 2010

This week, the financial crisis in Greece turned deadly serious. No longer are investors just losing boatloads of money. People are starting to lose their lives!

The latest bout of chaos struck on Wednesday during a general strike. Everyone from air traffic controllers to teachers left their posts. Tens of thousands of protestors hit the streets, hurling rocks and Molotov cocktails. Three people reportedly died in a fire that struck an Athens bank branch.

So what’s provoking the madness?

It’s the stiff austerity measures the rest of the European Union and the International Monetary Fund want Greece to enact. Officials are forcing Greece to slash public sector wages, freeze pensions and boost taxes before they’ll start disbursing the $143 billion in bailout money.

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