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Greek Workers Protest Austerity Cuts

Posted By Alfonso Esparza On In FX,Newsfeed | No Comments

Workers in Greece are holding a 24-hour general strike over continuing cuts as international lenders decide whether to unlock further bailout money.

Flights and other transport are being disrupted by action in both the public and private sectors, and schools and hospitals are also affected.

Greece has held more than 30 general strikes since early 2010.

Unemployment stands at nearly 28% after massive public sector cuts and tax rises to reduce its fiscal deficit.

Greece has been granted two bailouts totalling about 240bn euros (£202bn; $323bn) to help cover holes in its financing, and there is speculation it will need a third package of at least 11bn euros next year.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
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

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