GREECE: ‘ Pensioners Take to the Streets to Voice Anger Against Austerity Measures ‘

#AceFinanceNews – GREECE (Athens) – October 05 – Greek pensioners have taken to the streets in the capital, Athens, to voice anger at austerity measures taken by the government of Prime Minister Antonis Samaras.

'Greek Penioners Demonstrate Against Spending Cuts '

‘Greek Penioners Demonstrate Against Spending Cuts ‘

Furious at the government’s plans to cut pensions and increase taxes, the demonstrators gathered in central Athens on Thursday and marched on the premier’s office.

The protest came a day after the country’s troubled coalition government announced that it would call a vote of confidence in parliament next week, shortly after Greece’s leftwing opposition, standing against the austerity measures, demanded early elections.

Samaras’ conservative-led coalition could be forced to hold an early election before March as it needs opposition backing in parliament to elect a new president.

“A vote of confidence? What vote of confidence? They have destroyed us all, our rights, everything…. They leave us nothing. What vote of confidence? None of them are trustworthy,” a protester told Press TV.

Referring to the vote of confidence, another demonstrator said the Greek people do not care for another government that will come and apply the same policies, adding, “A government that will solve our problems should come, but up to now we have not seen such a thing.”

The so-called conservatives are behind the anti-bailout opposition Golden Dawn party in opinion polls. Golden Dawn wants the government in Athens to renegotiate the terms of its 240-billion-euro (USD 302.5 billion) bailout deals with the eurozone and the International Monetary Fund (IMF).

Inspectors from the European Union and the IMF are now in Greece for their latest review of the country’s bailout program.

The bailout helped Greece refrain from filing for bankruptcy when it lost market access four years ago. However, the harsh austerity measures demanded in return for the loans have caused a dramatic increase in poverty and unemployment in the country.



#afn2014, #athens, #austerity, #demonstrators, #greece, #protesters

` Greece is Fully Financed for the Next 12 Months According to Eurozone Minister '

#AceFinanceNews – GREECE – April 01 – Greece is fully financed for the next 12 months, the chairman of Eurozone finance ministers Jeroen Dijsselbloem said on Tuesday.

The country does not want to ask the eurozone for a third bailout, although it is too early to say if it can fulfil that ambition, according to the official.

Full funding one year ahead is a condition for the International Monetary Fund (IMF) to disburse its part of the existing bailout.

According to (Reuters) Greece was cut off from markets in 2010 as the true scale of its debt burden became apparent. But after four years of painful measures to contain debt, two bailouts worth 240 billion euros ($330 billion) and a hit on private bondholders, the Greek economy is expected to return to modest growth this year.

Encouraged by falling bond yields, Greece is considering ending its four-year exclusion from bond markets by selling 1.5 billion-2 billion euros of five-year bonds in a test issue in the first half of the year.

The cash raised would complement money that Athens will get from the euro zone and the International Monetary Fund after a deal in March which unblocks the payment of overdue tranches.

The certainty that Greece will have enough money over the next 12 months to cover its expenses is important because it is a condition for the IMF to keep lending to Athens even after euro zone loans stop at the end of 2014.

“We had assurance from the Troika institutions that Greece is fully financed for the coming 12 months,” Reuters quoted Dijsselbloem as saying.


#athens, #eurozone, #greece, #imf, #international-monetary-fund, #tranches

” Mission of `International Lenders ‘will return to `Greece’ this week to`Review’ Reforms”

#AceFinanceNews say that `Eurogroup’ says troika to return to Greece this week, as there has been no progress in discussions with `Greek‘ authorities.

European Central Bank

A mission of international lenders will return to Greece later this week to review progress made in delivering on the country’s reforms, the chairman of euro-zone finance ministers, Jeroen Dijsselbloem, has said.

The International Monetary Fund (IMF), the European Commission and the European Central Bank interrupted a visit to Athens last year because there was no progress in discussions with Greek authorities.

This has held up disbursements of loans due since September 2013, Reuters said.

The main sticking point is how Athens would plug a gap in this year’s budget, estimated at 1 billion euro.

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