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Greece Passes Austerity Measures, Riots Continue

June 30, 2011 by  

Greece Passes Austerity Measures, Riots Continue

On Wednesday, lawmakers in Athens, Greece approved an austerity package for the country, bowing to the demands of international lenders. The 155-138 vote passed as riots and protests continued in the nation’s capital.

“Greek riot police fired round after round of tear gas to keep small crowds of protesters away from Parliament in the run-up to the vote and as lawmakers one by one said ‘Yes’ or ‘No,’” read a CNN.com article. Police told the news outlet that at least 19 officers were injured Wednesday, and “dozens” of Greek citizens have gone to hospitals with breathing problems from the tear gas.

“Unions oppose the austerity package, but its backers say it is essential to the stability of the Greek economy, the euro, and the global financial system,” CNN reported. Experts say this austerity package should clear the way for Greece to receive its fifth installment of a bailout from the European Union, the International Monetary Fund and other lenders.

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  • s c

    Anyone out there still think unions serve a purpose? They seem to be good at redistributing a nation’s wealth. However, that is also a part of Greece’s problem. Perhaps Greece is being used as a ‘test kit,’ so we might extrapolate what will happen next here if Greece folds.
    Without a doubt, central banks in Greece had a lot to do with what happened there. Central banks haven’t done America any good. While I sympathize with the good people of Greece (not all of them), sometimes certain life lessons have to be learned. Maybe the union types in Greece could move their sorry rumps to Mexico, were they could try and ‘compete’ with the locals.

  • Raggs

    What is the difference from a bail-out and raising the debt celling?

    Thought so NOTHING.

  • Cawmun Cents

    “I never understood why Greeks are so anal about everything”…haw!-CC.

  • Pete

    Receiving money from the “IMF” results in slavery. I hope the people of Greece are successful in avoiding slavery to the bankers.

    The austerity measures are being imposed by the bankers – Greece will be paying off their DEBT (with interest) for many years ? Keep protesting – this is a new chapter in “The Athenian Constitution” ……..

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