Greece Again Shut Down By Protests And Strikes Over Pensions
Greece Again Shut Down By Protests And Strikes Over Pensions | Zero Hedge
Mish Shedlock of MishTalk
Greece Shut Down By Protests And Strikes Over Pensions; Emergency Eurogroup Meeting Monday
In protest of still more pension cuts, Greek unions started a 3-day strike on Friday that has shut down much of the country.
The Greek parliament holds a pension reform vote on Monday. The vote is expected to pass but perhaps barely. Syriza has a slim three seat majority in the 300-seat Greek parliament.
Also on Monday, the Eurogroup called an “extraordinary” meeting in Athens to discuss the state of play of the macroeconomic adjustment program for Greece.
“Extraordinary” is a euphemism for “emergency”. More demands on Greece are coming up. Greece is way off projected (and mandated) budget surplus targets.
Protesters have gathered outside parliament in Greece ahead of a vote on further austerity measures in return for more international bailout money. The rally coincides with a three-day general strike against the introduction of tax and pension changes.
The BBC reports Greece Protests Ahead of Vote on Pension and Tax Change.
Once again protesters have gathered in Syntagma Square, just outside Greece’s parliament, as lawmakers debate tax and pensions reforms inside the building. Thousands marched in Athens on Saturday – but Sunday’s rally is expected to be even bigger.
The changes expected to be approved by MPs include tax hikes and pension cuts. Greece has been unable to unlock the next loan installment of €5bn (£4bn) after clashing with its creditors over the need for more reforms.
The nationwide strikes are the fourth series to be called since Prime Minister Alexis Tsipras’s government won re-election after organising a referendum on the country’s bailout.
Greece is already looking to implement spending cuts that will amount to 3% of the country’s gross domestic product or €5.4bn euros by 2018.
Source: http://blogdogcicle.blogspot.com/2016/05/greece-again-shut-down-by-protests-and.html
