Thousands stage anti-austerity demonstration in Greece

 

Doctors, health workers and foreign unions march in the Greek capital, Athens, during a nationwide strike, June 7, 2013.

Sun Jun 9, 2013 6:59AM GMT

0

6

 

23

 

Greece was granted a 110-billion-euro (145-billion-dollar) bailout by the so-called troika of IMF, the European Commission (EC), and the European Central Bank (ECB) in May 2010. Another 130-billion-euro (170-billion-dollar) rescue package was approved in February 2012.”

Thousands of people have staged a demonstration in the Greek capital, Athens, to protest against tough austerity measures imposed by the government and the economic policies of the European Union.

On Saturday, protesters from across Europe took to the streets of Athens to make their voices heard and demand changes to the EU’s financial policies.

The demonstrators rallied outside the Greek parliament and shouted slogans against Greece's international lenders. They also blamed EU governments for the ongoing economic crisis in Greece.

Greece was granted a 110-billion-euro (145-billion-dollar) bailout by the so-called troika of IMF, the European Commission (EC), and the European Central Bank (ECB) in May 2010.

Another 130-billion-euro (170-billion-dollar) rescue package was approved in February 2012.

According to the figures released by the Greek statistics service, Hellenic Statistical Authority (ELSTAT), the Greek economy contracted by 5.6 percent in the first quarter of 2013 compared to the same period in 2012.

The announcement came days after the International Monetary Fund (IMF) admitted it had made serious mistakes in preparing Greece’s first rescue package, which led to a second larger bailout.

The Greek economy also showed a 5.7-percent slump in the fourth quarter of 2012.

Reports say Greece has an unemployment rate of 26.8 percent.