Global Security Studies Practicum

Vasso Papandreou has vowed to vote against future austerity measures. 20 October 2011 The Greek Parliament approved austerity measures that will very likely ensure they receive an €8billion loan tranche from the European Union and International Monetary Fund . The bill was approved 154 to 144. The narrow margin reflects the predicament of the Greek government. Lenders are demanding cuts to the country’s budget and the public is resisting. Members of the ruling party, PASOK , are also beginning to resist new measures. Vasso Papandreou said, “I will vote in favor, but this is the last time -- I am struggling with my conscience.” The measures passed as workers continue to strike, shutting down many facilities. Reuters reports that unions vow continued stoppages. Banks, schools, and government buildings closed on Thursday. Hospitals ran on limited staff. Comment – Over 100,000 protesters took to the streets on Wednesday in Athens to oppose the new government measures...

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: ...