Strikes to Halt Business in Athens

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Strikes in Athens have prevented public services
such as waste removal from functioning .

18 October 2011

ATHENS, GREECE – Unions representing approximately half of the 4 million people in the Greek workforce will strike Wednesday and Thursday to protest a new package of austerity measures. Parliament is likely to pass the measures this week. PrimeMinister George Papandreou has stated the package must pass to allow Greece to emerge from the financial crisis. Two PASOK deputies will very likely vote against the package, but it is still likely to pass. The new strikes are in addition to several independent ongoing strikes. The strike will almost certainly prevent normal business operations in Athens for 48 hours.

Comment -- The bill includes tax hikes, wage cuts, public sector layoffs and changes to collective bargaining rules. It is likely to be passed Wednesday or Thursday. Greece's public debt is currently 162 percent of the country's GDP.

Source:
Greece braces for shutdown as austerity vote nears.
http://www.washingtonpost.com/business/economy/greece-braces-for-shutdown-as-austerity-vote-nears/2011/10/18/gIQANrxxuL_story.html

Reliability: 8

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