Sunday, June 12, 2011

I just saw this on FOREX.com

I think you might enjoy this article: Thousands Of Greeks Stage Protest Against Austerity Measures.

By Costas Paris
Of DOW JONES NEWSWIRES
ATHENS -(Dow Jones)- Tens of thousands of angry Greeks demonstrated in central Athens on Sunday against a new wave of austerity measures that the country has promised to its international creditors to avoid default.
The protesters massed at Constitution Square overlooked by parliament holding banners that called for popular resistance to the new measures that include cuts in salaries and pensions and a series of new taxes, privatizations and spending cuts.
The rally was peaceful, with the protesters gesturing at the parliament building and shouting: "Thieves, Thieves, Thieves" in unison.
It was the third straight Sunday of similar protests, which began 19 days ago by a new movement of self-proclaimed "indignant" citizens organized over the Facebook and modeled on a similar protest in Spain known as Los Indignados. It brings together a wide segment of society, from youths to retirees.
"We were both fired by the computer-software company we worked at for the past three years," said Jenny Kyriakidi, accompanied by her husband Lambros and holding their four-month-old baby daughter. "All the government cares about is to satisfy its creditors and their cruel terms. Nobody cares about us. If we didn't have our parents, we would go hungry."
"We worked hard and paid our taxes. We want to give our daughter a decent future. The computer company didn't even have the decency to at least keep one of us working," Lambros Kyriakidis said.
Since May last year, when Greece got a EUR110 billion loan, the socialist government has been under special European Union, International Monetary Fund and European Central Bank supervision as it struggles fix its public finances and reform the economy.
But despite the loan, the government has failed to fulfill many of its promises and the EU and the IMF are discussing ways to come up with a second loan this month to keep Greece from going bankrupt.
In return, Greece has agreed to implement a EUR28.4 billion austerity package that aims to cut the budget deficit below 1% of gross domestic product by 2015, from 10.5% of GDP last year.
The package is due to be voted in parliament this month.
Labor unions have called for a nationwide general strike on Wednesday.
-By Costas Paris,Dow Jones Newswires; +30 6972328829; costas.paris@dowjones.com
--Alkman Granitsas contributed to this article.
(END) Dow Jones Newswires
June 12, 2011 14:32 ET (18:32 GMT)2011 Dow Jones & Company, Inc.


Mohamed E. Shaheen from iphone

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