Topic: Financial crisis in Greece
Greek Finance Minister Yannis Stournaras shakes hands with Prime Minister Antonis Samaras at the end of the parliamentary session dedicated to new austerity measures on November 7, 2012© AFP 2013/ Panay
- Greece Sells 1.3 Bln Euro 6-Month T-Bills, Yield Eases
- Two-Day General Strike Begins in Greece
- Greek PM Urges Lawmakers to Adopt Austerity Package
- Greek Court Rules Pension Reform Might Be Unconstitutional
- Greece Agrees Spending Cuts But Wins Two Year Respite
ATHENS, November 8 (RIA Novosti) – The Greek parliament passed early on Thursday a highly unpopular austerity bill that ensures continued funding from the country's international lenders.
The bill envisions 13.5 billion euros in spending cuts as well as tax hikes and labor reforms by 2016 in order to secure a new 31.5-billion-euro bailout tranche from the European Union, the International Monetary Fund and the European Central Bank.
The austerity package presented the biggest challenge to the fragile three-party coalition government, as Greece risked running out of money on November 16 to pay its huge debts.
Up to 100,000 people gathered outside the parliament building on Wednesday night to protest against the austerity measures.
The rally turned violent when the protesters started throwing fire bombs and stones at riot police, who dispersed the crowds with tear gas and water cannons.
According to media reports, at least five protesters and seven police officers were injured in clashes that continued for three hours despite the pouring rain. Over a hundred protesters were detained.
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: The World’s Most Notorious Prisons
Infographics: Group of Eight: Countries and Permanent Members
Cartoons: Polar Explorer Day
News that Moscow Mayor Sergei Sobyanin would resign in order to run for the mayoral election in September came as quite a shock. Sobyanin’s political potential is fairly dubious, not to mention his approval ratings. He has not finished many of the projects he initiated and the electoral effect from these projects is expected to come a bit later than September 2013. Sobyanin’s opponents were not entirely unprepared for this blitzkrieg.