Greece Protests Continue to Block 11.5 billion euro Austerity Measures

Greek police have fired tear gas to disperse anarchists throwing petrol bombs near Athens’ parliament on a day-long strike against austerity measures.

Clashes erupted during the first trade union-led action since a conservative-led coalition came to power in June.

The protest is against planned spending cuts of 11.5bn euros ($15bn; £9bn).

The savings are a pre-condition to Greece receiving its next tranche of bailout funds, without which the country could face bankruptcy in weeks.

An estimated 50,000 people have joined the protests.

A march past parliament turned violent as anarchists wearing black balaclavas and carrying sticks threw petrol bombs and broken bits of concrete at riot police on Syntagma Square, says the BBC’s Mark Lowen in Athens.

Wednesday’s strike has brought the whole country to a standstill, adds our correspondent, with doctors, teachers, tax workers, ferry operators and air traffic controllers all joining the protest.

It follows a series of demonstrations in Spain and Portugal, which are also facing stringent austerity measures.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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