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Thursday, 20 October 2011 - Greece faces austerity vote, more strikes |
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      Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Green Business Legal Deals Earnings Summits Business Video Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia Afghan Journal Africa Journal India Insight Global News Journal Pakistan: Now or Never? 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Tourists wait for a bus next to a burnt ticket kiosk at central Syntagma (Constitution) square in Athens October 20, 2011. Angry protesters vowed to bring Greece to a standstill on the second day of a general strike on Thursday while disgruntled lawmakers vote on the details of a deeply unpopular austerity package needed to stave off bankruptcy. Credit: Reuters/Yiorgos Karahalis By Renee Maltezou and Ingrid Melander ATHENS | Thu Oct 20, 2011 3:42am EDT ATHENS (Reuters) - Greek protesters marched on parliament Thursday, raising the prospect of more violence in strikes against austerity measures parliament is poised to approve to try to stave off bankruptcy. Deputies are expected to give a final green light to the belt-tightening plan required by the European Union and International Monetary Fund after a first reading Wednesday, when protesters pelted police with petrol bombs and chunks of marble. But at least two ruling party MPs have said they may vote against one of the bill's provisions, threatening to weaken the government's narrow majority as it battles a debt crisis that is shaking global markets. Early Thursday, Sofia Giannaka, a potential rebel deputy, indicated she would probably vote in favor of the provision, which suspends some collective pay accords, but she said she would not accept any more major cuts. "There will be no next time," she told Greek radio. The government's majority of 154 seats in the 300-member parliament is expected to see the bill through but any defections would be embarrassing as Athens struggles to convince international lenders to continue their support. Prime Minister George Papandreou has appealed for support before a European Union summit Sunday where leaders are hoping to set the outlines of a new rescue plan intended to stave off bankruptcy for Greece and stop the crisis spreading to other euro zone countries. Analysts expect the protests to continue, with Greeks increasingly angry at measures they feel only hurt the poorest while tax evaders and corrupt politicians are unaffected. "People sent a message Wednesday that they have reached their limits and can't take any more austerity," said Theodore Couloumbis of the ELIAMEP think-tank. "But these kind of protests cannot topple the government," he said. "I don't see this happening now." RUNNING BATTLES Running battles between black-clad demonstrators and riot police Wednesday left streets in central Athens covered with smoldering rubbish and lumps of masonry hacked off buildings in a repeat of clashes seen in anti-austerity protests in June. The violence overshadowed the first day of the 48 hour strike that shut down much of the country and brought at least 100,000 people to the streets of the Greek capital to protest against the latest package of cuts. Ministries, schools and other public buildings will be shut, transport services will be severely restricted and hospitals will be running on skeleton staffing, while many shops will also be closed. Thousands of police will be deployed through central Athens. "The protests will shake the government again, they will feel like an earthquake," said Ilias Iliopoulos, secretary general of public union ADEDY. Stuck in its third year of deep recession and immobilized by a public debt pile amounting to 162 percent of gross domestic product, Greece is trapped between international lenders demanding tougher action from the government and growing public anger over the cuts. Protesters are set to rally in front of parliament from 0800 GMT and will try to stay on the square till late at night, while lawmakers vote on the bill. The bill foresees an average wage cut of about 20 percent for public sector workers, bringing total income losses since the crisis started two years ago to about 40 percent, and reduces the tax-free income threshold. It will make it easier for firms to cut payroll costs by reaching company-level wage agreements, which has particularly angered some ruling party lawmakers. Papandreou will hold a cabinet meeting at around 0900 GMT, before the parliamentary vote. (Writing by Ingrid Melander and James Mackenzie; editing by Elizabeth Piper) World Greece Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?)   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Contact Us Advertise With Us Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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