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GREECE

Greeks demand an end to austerity

 

June 2017

Nationwide, both public and private sector workers have walked off the job last week and held mass demonstrations in Athens and other cities calling on the members of parliament to revoke a new "bailout" agreement between the Govern-ment and international creditors.

The new deal was agreed earlier this month between Athens and its EU creditors, with backing from the International Monetary Fund, in order to transfer more than 7 billion euros to the private sector and foreign owned banks operating in Greece.

New austerity attached to the funds release include the 13th cut in pensions since 2010, cuts to social services and a reduction in tax-free allowances on income. They come after years of cuts that for a time threw the country into deep recession.

Unemployment is running at close to one in four and there is a 48 percent jobless rates among the youth.

 

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