Greece braced for mass protests as austerity cuts bite

[xchrom]

http://www.guardian.co.uk/world/2011/sep/10/greece-braced-protests-public-sector-cuts

More than 5,000 police have been mobilised in Athens amid government fears of a repetition of last June's violent riots in the capital.

Another 5,000 are being deployed in Thessaloniki where the Green prime minister George Papandreou is due to give a speech defending the harsh fiscal cuts pledged by his government.

He is expected to face mass protests after he announced 10,000 immediate public sector job cuts as he comes under mounting pressure to save Greece's position in the eurozone.

Thessaloniki is preparing for huge unrest – police have erected metal barricades to prevent protesters from storming the grounds of the International Trade Fair, where Papandreou will deliver his speech.

[adhd_what_huh]

1. I would fight like a mad dog....but I wish i understood the situation

better. Can someone please link to info than explains the cause of such poor conditions for the Greece economy.

[Jazzgirl]

2. Do a search on Google for Greek austerity.

That will give you plenty of links.

[adhd_what_huh]

5. will do and thanx

[banned from Kos]

3. Greece can't or won't collect enough taxes to pay for their social programs

AND

they can no longer effectively borrow (46% interest on 2-yr bonds).

therefore - massive cuts.

[FLPanhandle]

4. I don't understand why the government even tries to stay in the Eurozone

It's killing them and it's eventually doomed anyway.

Greece is destined to default anyway, why delay the inevitable and pump what money they do have to the banks in France/Germany?

Sometimes you just have to punt.

[banned from Kos]

6. If Greece defaults its Instant Austerity for them

as they will be unworthy to loan to.

Greece has budget deficits like the USA does. If we could no longer borrow we would have to cut 40% of spending immediately (or double tax rates).

[malaise]

9. Really - more and more countries will default

and destroy the corrupt banking system, the corrupt ratings system and the looters of countries' assets - the IMF and their friends.

[banned from Kos]

12. The PIIGS owe Deutsche Bank $5.1 billion and Merkel is being pressured

http://www.bloomberg.com/news/2011-09-09/deutsche-bank-risk-seen-rising-as-puts-appreciate-most-in-europe-options.html

to tell Greece to go to hell by the German people who don't want the Eurozone to bail them out.

[FLPanhandle]

10. Their bond yield is over 40% now.

That's not sustainable. They are destined to default regardless.

They might as well wipe the debt off their books, get off the Euro, and they'd be better off in the long run.

[oldhippie]

7. Greece wanted to pretend that ....

... they were one of the world's "grown up" economies.

They aren't.

[blindpig]

8. KKE don't play

Papariga addresses PAME rally in Syntagma Square

Communist Party of Greece (KKE) General Secretary Aleka Papariga on Saturday addressed a protest rally organised in Syntagma Square in central Athens by the PAME trade union faction, which is affiliated to the KKE, against the new tax measures announced by the government.

Papariga urged those present to "push aside their fears, self-delusions and hesitation or we, the working people, the working class, and especially young people will find ourselves literally up against the wall. The countdown for the rebirth and counterattack of the movement must begin now."

PAME members also underlined that their presence at an afternoon rally in Thessaloniki will be "dynamic".



http://www.athensnews.gr/portal/8/47165

[Starry Messenger]

11. +1

[socialist_n_TN]

13. It's time for European coordination of these actions

EVERYBODY goes out and into the streets at the same time.

I'd advocate for that here too, but Europe is SO far ahead of us they're going to have to show us the way.

[mdmc]

14. ..