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Protesters burn German flag in austerity protest
Posted By admin On February 8, 2012 @ 4:48 am In Money Watch | Comments Disabled
ABC Australia 
February 8, 2012
Scuffles broke out and a German flag was burned outside the Greek parliament as thousands of protesters demanded an end to proposed EU-backed austerity measures.
As negotiations between Greek coalition MPs on budget cuts continued, thousands of people joined a march demanding the government ignore EU and IMF preconditions for a massive bailout that includes more cuts to jobs and wages.
The IMF, the European central bank, and the EU have all warned the massive multi-billion dollar bailout will be withheld unless Greece further reduces its deficit.
Without the money the country will almost certain to default on its loans, but with an early election possible, MPs have been reluctant to sign up to more painful measures.
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 ABC Australia: http://www.abc.net.au/news/2012-02-08/fresh-rioting-in-greece/3817106
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