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Riot police detain a protester during clashes in Athens, Friday, Feb. 10, 2012. (AP / Petros Giannakouris) A protester throws a stone toward riot police during clashes in Athens, Friday, Feb. 10, 2012. (AP / Petros Giannakouris) A protester throws a stone toward riot police during clashes in Athens, Friday, Feb. 10, 2012. (AP / Petros Giannakouris) A riot policeman tries to avoid a stone thrown by a protester during clashes in Athens, Friday, Feb. 10, 2012. (AP / Petros Giannakouris) Commuters wait for the first train after a five-hour work stoppage by urban rail workers, as all other public transport employees are on a 48-hour strike, in Athens on Friday, Feb. 10, 2012. (AP Photo/Thanassis Stavrakis)

Facing dissent, Greece vows to push through austerity

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CTV National News: Economic unrest in Greece
A massive eruption of economic unrest in Greece reverberated on the streets and on North American stock markets Friday. Ottawa bureau chief Robert Fife has more on the rioting and the reality.
CTV News Channel: Anthee Carassava, Los Angeles Times
A correspondent says workers in Greece are protesting against the latest round government cuts while union leaders are saying more sacrifices is only sinking the country deeper and faster into a recession.
CTV News Channel: Greece strike turns violent
Protests have turned violent in Greece, as thousands of workers stage a two-day strike. Railway, ferry, and public transit systems have all been shut down.

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Riot police detain a protester during clashes in Athens, Friday, Feb. 10, 2012. (AP / Petros Giannakouris) A protester throws a stone toward riot police during clashes in Athens, Friday, Feb. 10, 2012. (AP / Petros Giannakouris) A protester throws a stone toward riot police during clashes in Athens, Friday, Feb. 10, 2012. (AP / Petros Giannakouris) A riot policeman tries to avoid a stone thrown by a protester during clashes in Athens, Friday, Feb. 10, 2012. (AP / Petros Giannakouris) Commuters wait for the first train after a five-hour work stoppage by urban rail workers, as all other public transport employees are on a 48-hour strike, in Athens on Friday, Feb. 10, 2012. (AP Photo/Thanassis Stavrakis)

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Riot police detain a protester during clashes in Athens, Friday, Feb. 10, 2012. (AP / Petros Giannakouris)

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Unbelievable. Let them strike their way into bankruptcy....that appears to be what they want anyway. How many chances are we going to give these people? It seems nothing will make them happy except to revert back to their lifestyle of comfort without accountability. Hopefully it won't have too much affect on the rest of us when they go down. You can't help somebody that does not want to be helped. You can make an offer to help, and when it is rejected, you have to move on.

CanadaEh?

Greek unions launch two-day strike, bailout in limbo

talking about
Facing dissent, Greece vows to push through austerity

Date: Fri. Feb. 10 2012 8:20 PM ET

ATHENS — Greece's future in the eurozone came under renewed threat as popular protests again turned violent and dissent grew among its lawmakers after European leaders demanded deeper spending cuts.

The country's beleaguered coalition government promised to push through the tough new austerity measures and rescue a crucial C130 billion ($170 billion) bailout deal after six members of the Cabinet resigned.

Prime Minister Lucas Papademos promised Friday to "do everything necessary" to ensure parliament passes the new austerity measures that would slap Greeks with a minimum wage cut during a fifth year of recession. He also promised to replace any other Cabinet members who did not fully back his efforts.

"It is absolutely necessary to complete the effort that began almost two years to consolidate public finances, restore competitiveness and economic recovery," Papademos told an emergency Cabinet meeting.

Draft legislation for the new austerity measures was submitted to parliament after the five-hour meeting ended.

In central Athens, clashes erupted Friday outside Parliament between dozens of hooded youths and police in riot gear. Police said eight officers and two members of the public were injured, while six suspected rioters were arrested.

The violence broke as more than 15,000 people took to the streets of the capital after unions launched a two-day general strike that disrupted transport and other public services and left state hospitals running on emergency staff.

Scores of youths, some in gas masks, used sledge hammers to smash up marble paving stones in Athens' main Syntagma Square before hurling the rubble at riot police.

Debt-stricken Greece does not have the money to cover a C14.5 billion bond repayment on March 20, and must reach a vital debt-relief deal with private bond investors before then.

Papademos said the bailout and the deal with private creditors would return Greece to growth next year, and deliver a 4.5 per cent primary surplus in 2012 -- better than an earlier official prediction of 1.1 per cent of gross domestic product.

"A disorderly default would cast our country into a catastrophic adventure. It would create conditions of uncontrollable economic chaos and social explosion," he warned.

"Greeks' standard of living in the event of a disorderly default would collapse, and the country would be swept into a deep vortex of recession, instability, unemployment and penury. These developments would lead, sooner or later, to exit from the euro."

He also warned that, "Either we will achieve an agreement that will set the country on a new course, or, if we backtrack, in yet another historic display of cowardice, we will head for collapse. I want to be clear. These are not just crucial moments, they are dramatic for the country."

Earlier Friday, the small right-wing LAOS party in Papademos' coalition said it would not back the new measures and four of its officials in the cabinet resigned, including the country's transport minister. Two Socialists cabinet members have also quit.

LAOS leader George Karatzaferis said rescue creditors had humiliated Greece.

"Of course we do not want to be outside the EU, but we can get by without being under the German jackboot," he said. "I would rather starve."

Greece has promised to approve the new austerity measures as emergency legislation by late Sunday, despite deep public resentment. Papademos' coalition is backed by 252 lawmakers in the 300-seat parliament.

The cuts include a 22 per cent drop in the minimum wage and plans to fire 15,000 civil servants in 2012, at a time when the unemployment rate is over 20 per cent and the economy is in a fifth year of recession.

European leaders, however, are demanding deeper spending cuts.

Eurozone finance ministers on Thursday said more austerity needs to be agreed to and set a deadline for the middle of next week.

"No disbursement without implementation," Jean-Claude Juncker, the Luxembourg premier who also chairs the Eurogroup meetings, said after the eurozone ministers declined to fully back the deal Greek leaders had agreed to.

Comments are now closed for this story

ssleung
said
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I'm surprised downtown Athens hasn't burned down yet. This is what, the 6th riot there?


steve
said
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Some of the comments on here are frightening. "Historically, the Greeks have never paid their debts", how would you know that? Even if there was widespread corruption in that country for the last few decades does not mean that it was historically so. At this point one of the critiques of the Troika demands is that they do not allow Greece to grow their economy to pay off these debts. Completely bankrupting everyone in the country will do no one any good.


Rev in VC
said
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Oh yes. Naturally the sure way to improve your economy is to firebomb whatever is left -_- Seriously, when loan sharks are getting the heck out of there, you know things are pretty bad. I imagine in a few years the world will be needing to collect donations and send aid packages over there if these jokers keep it up with the denials.


Jayme
said
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Cecilia Its very easy to say the companys are to blame and don't get me wrong to a degree they are but there is other blame to go around such as demands by some workers the demands by the gov and yes companys do get some blame.


John C
said
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Maybe its time to start considering a Greek Bankruptcy. This is a short term solution to a long term problem and they don't seem to have the political will to correct it. I think the uncertainty is actually hindering the free market from self correcting and getting on with it. Let's put the cards on the table find a long term solution.


john
said
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the peanut gallery is out in full force today. The arm chair economists are recycling the info that is spoon fed to them by the media. lazy greeks this,greedy unions that...can any of you think for yourselves and formulate an opinion without cut and pasting what you take from the media. When the issues that plague Europe hit noth america i will just cut and paste your comments, so you can be reminded of your harsh critisism of others. Its always the workers fault that he is making too much money....they are greedy. Sounds to me that alot of you are either making minimum wage and are jealous or that you are owners of businesses or managers that are telling everyone to eat cake


Roxy
said
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The Greeks would be fools to accept the EU demands ... The European bankers new business is to privatize capital and make debt a public responsibility ... They want to pay debt with debt - loading the government & public sector with bonds that can never be paid so that the poor & marginalized will always be poor & marginalized ....


Prof. Pye Chartt
said
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Responsible governments, like responsible companies, responsible families, and responsible individuals, spend money based upon KNOWN and, to a lesser extent, LIKELY incoming revenue. Greece didn't slide down to the verge of bankruptcy overnight. The country has been spending far more than it has been taking in for some time. Tax cheating, therefore, although contributive, doesn't genuinely and legitimately account for a significant amount of the resulting shortfall. (Culturally, it is almost a "lifestyle" to many Greeks.) The bottom line is that Greece has been recklessly spending money it KNEW it didn't have.


retired canuc
said
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The last thing to do to someone drowning in debt is pile on more debt. If the first debt can't be paid how do they expect even more to be paid?


Jeremy
said
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Give it a rest Pye Chartt. Apples and Oranges. You are truly blind to any other opinion besides yourself, or the talking points of the Harper Gov't. I am now more convinced than ever that you are a spin doctor for the Conservative Party, wouldn't be the first time the Cons have lied about they're affiliation to comment on news sites. Let poor senior's go hungry, or get kicked out on the street. Once we see their faces on the national news, it will only be a matter of time before this repressive Harper Gov't is finally gone for good.


kinger
said
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The Greeks just dont get it ,the world money meltdown is all their fault and they are going to have to pay...


Sam
said
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@Norm_D:All of S America is in much better shape than they were before they booted out the multinationals and bankers.You think there is inflation in Argentina now?You are ignorant of the recent past.As for the similarity between S America/Europe and the way bankers and technocrats attempt to take over nation states the difference is trivial.The overall agenda is the same.Do some research before miming the new world order nonsense from the MSM.


Greg C
said
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Can we just please stick a fork in this and call it done. Build a wall between Greece and the remainder of Europe and let the striking 'workers' starve in the dark with no federal police service to maintain order. Enjoy your harvest Greece.


Rob
said
0 0

kick them out of the European union, once and for all. There is no other solution


GHW
said
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The sooner Greece bottoms out the better for them. On the other hand it is kind of beneficial to have a shining example of an NDP governing model in an advanced stages of inevitable corruption and collapse being played out before us.


Cecilia
said
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I've read all these comments and everyone seemt to think that Unions are the demon! How about coroporations that are sitting on billions of dollars world wide and gettig free rides from corporate tax cuts in every country they have facilities in. Are the workers the only ones that have to take the blame for countries falling? I think not! Another example of the rich taking and taking and nt caring who the destroy just as long as it doesn't hurt their life syles and bank accounts. Yes corporate greed is a big problem in every nation on this planet. Oh and the governments they have bought and paid for through their political donations with the expectation of "you own me" when the time comes.


czmerac
said
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Historically the Greeks have never paid their debts. In ancient times they just picked up their arms, gathered an army and heisted gold and other assets from their neighbors. The Romans gave them their dues. How many wealthy Greeks today avoid tax? They borrow, waste money, strike at every whim etc. Let them go down. They are not in a position to make demands. Their socialist ideals will never make them a "have". It will be messy but necessary. Fly on your own Zorba


Lz in Edmonton
said
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A point to ponder, Greece isn't the first or last country to declare bankrupcy. The sun will shine the next day. The only difference is, the people of greece truly brought this on themselves. It hit its climax with the olympics just a few short years ago when the unions were behind on building the required venues and the costs just went crazy.


Prof. Pye Chartt
said
0 0

More proof of the highly addictive qualities of nanny-state governmental policies and programs, and the beastly entitlement of the unionized workforce itself. ("They tried to make me go to rehab, I said, 'No, no, no.'")


Lz in Edmonton
said
0 0

If I was a business owner in Greece, I would have left while I could. One can not hire people who think that borrowing money to pay staff in the long run is how to operate a business or country. They ran out of their own money long ago and now, they are running out of other people's money too. Socialism without a check and balance system will fail. People who refuse to pay taxes that PAYS for all the government jobs is rampent there. How they were ever given a EURO zone pass and credit card I will never know. Those bankers should be in jail too.


Mark
said
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What a great idea. Maybe the Greeks could try oh, I don't know...how about taking more vactions, working fewer hours, retiring earlier, passing on their pensions to their unmarried daughters, hiding their incomes in order to avoid paying taxes?Oh wait a sec, they've already been doing that.Perhaps they could simply hold a collective economic gun to their country's head? Oh wait, they appear to be doing that too.Nice play Greece.


Lady O
said
0 0

It's not just the unions that are worried. Minimum wage is already under $950 a month and the cost of living is way higher there. There are no jobs, and many other things that are unfair to not just union workers, but business owners as well. The austerity measures aren't fixing the problem, they need to find ways to increase economic growth so more income is coming into the government. Not just shut everything down, and knock on peoples doors asking for money. Feel horrible for this country. They should hurry up, rip the bandaid off, and go back to the Drakma. Wouldn't be any better, but at least they could figure out the problem on their own, instead of having outsiders telling them what to do.


Prof. Pie Plate
said
0 0

Geez Whiz, If Greece had the new Cons private member's bill making it Illegal to wear a mask in a riot they could just put the whole country in jail for up to five years!


MIkeW
said
0 0

@Reality Check, from a Canada perspective we are nowhere close to the situation in Greece. However, when one takes a look at Ontario with a debt of > $ 230 billion and a defecit of $ 17 billion and a Goverment not willing to reign in spending, not willing to downsize the public service, not willing to build efficiencies into operations, not willing to eliminate boondoggles etc then one can see signs of Greece


Jazz
said
0 0

If they want to make a statement against these measures why not do the exact opposite? Stage a two day "work for my country for free" rally to help Greece rather than act like a spoiled brat.


Jayme
said
0 0

JarrettThe west is on good shape but ontario and quebec are not and very well could be the next greece.


A Koster
said
0 0

"Once a nation parts with the control of Its currency and credit, it matters not who makes that nations laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile."William Lyon Mackenzie King 10th Prime Minister of Canada.." ... Who would Greece be selling out their sovereignty to?.. a consortium of central banks from many countries that could call Greece their own until that $130 billion is paid back.. if ever.. first step to an NWO type planet in my opinion. Greece is being pushed by the European Union to take this money and the people are saying no. Good for them. Iceland survived and so will Greece. Btw, don't believe for a minute that we aren't getting closer to this same situation .. just a wrong step or two beyond the horizon.


Mark in Newmarket
said
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The Greek governments and Greek unions have allowed this fiasco with the nations fiancial status to erode over the years. The socialist debauchery that has occurred will most certainly rob that nations future citizens (whom are yet unborn) to live in a once proud nation with nothing more than then the crumbs that are left from their ancestors. It just goes to show you just how deep greed can go.


danny
said
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Jarrett, I tend to think that Reality Check take on the situation is more accurate than yours. My guess is that you are part of the ME generation who feels they are entitled to everything and responsible for nothing.


Paul
said
0 0

All part of the plan it seems. The economy will collapse, and someone with a LOT of gold will step in to "save" or should I say SLAVE the world and put everyone back on the gold standard. And it will happen because of societies like Greece who want everything now and want someone else to pay for it. Greece isn't alone and solely to blame, they are just the first to go down.


Norm_D
said
0 0

@SAM. South America consists of a lot of countries. While Brazil is flourishing others are not. Argentina for one has high inflation, unemployment and their currency is constantly being devalued. So your comment is based on lack of knowledge about your subject. Greece on the other hand is a problem partially caused by the EU themselves bot their lack of the enforcement of their own monetary requirements when Greece adopted the Euro, it should hot have been permitted back then and it would not be dragging the rest down the drain with them. But Greece is not the only one, Italy, Portugal, Spain, Republic of Ireland, Iceland to name just a few have similar problems and are ready to slip into the proverbial toilet. In my opinion Germany, France and the UK have the answer, look after number one first. Germany and France at least have to go back to their traditional currency along with the UK (who never left it) and let the Euro go when it may.


Brian Fr Langley
said
0 0

Once out of the EU the Greeks can restore their National sovereignty and go back to printing their own money (drachma) More proof that collectives do NOT work. Despite all the evidence left wing loonies are still hell bent for leather to push collectivization at every opportunity. Does Kyoto ring a bell?


fairy tale
said
0 0

@Jarrett, I suggest the next time you make a comment you use the moniker Three Blind Mice. Canada is closer to the situation in Greece than you want to believe. To think we are not close to that situation is ludicrous. Reality Check is spot on the money. Greece is just the tip of the deficit financing iceberg. The USA is now over $14 trillion in debt and contemplating raising the debt limit once again. Canada is hundreds of billions in debt and chained to the USA. There is no bright future for any nation and more so if Greece actually defaults. Jarrett doesn't seem to understand the interconnectiveness of the worlds economies. Either that ot Jarrett is a unionized government worker.


Robert B
said
0 0

The unions just don't get it ,even in Greece. But on the other hand how much of a cut in pay, pensions, are the parliament members in Greece ready to take?????The CEos CFOS, etc. How come we never hear about these guys. Are they the untouchables?


Jarrett
said
0 0

@reality check, I suggest the next time you make a comment you use the moniker "Fear mongerer". We are no where close to the situation that greece is in and to suggest otherwise is ludicrous.


Anne
said
0 0

What planet are they from? Honest to goodness, they are expecting everyone else in Europe to hand their country billions and they don't seem to get it, that their country is broke?? I would be humiliated as a citizen if that was my country, and would be pulling together to find a solution. Cripes.


Stella in Toronto
said
0 0

Do these unions in Greece not realize that when the country goes belly up they won't be getting paid?


CanadaEh?
said
0 0

Unbelievable. Let them strike their way into bankruptcy....that appears to be what they want anyway. How many chances are we going to give these people? It seems nothing will make them happy except to revert back to their lifestyle of comfort without accountability. Hopefully it won't have too much affect on the rest of us when they go down. You can't help somebody that does not want to be helped. You can make an offer to help, and when it is rejected, you have to move on.


Sam
said
0 0

Greeks as well as the others who have suffered under the flawed European Union should cut their losses and default now.The South American experience where nations destroyed themselves trying to please world bankers is exactly where they will end up if they continue playing by the technocrats rules.South America is flourishing after they ditched the bankers and don't mind one bit being called socialists by the globalists.They are enjoying their new found prosperity far too much to listen to the bitterness coming from the globalists.


Reality Check
said
0 0

Fellow Canadians take note; this could be Canada in a few years if the Canadian governments at all levels don't get their spending under control. I know it's not popular but the reality is that we have to abandon the idea of being taken care of from cradle to grave and business must realize that they must also live within their means and not expect a handout every time their profits take a downturn. Most of all the government must realize that taxpayer dollars are not there to be plundered for gold pated pensions, ego boosting bridges, handouts to buddies for unnecessary fictions projects etc. The reality is we have lived beyond our means for far too many years and have this false sense of entitlement that cannot be sustained.Just because you had a child or you whether you just turned 65, you still have to take responsibility for your situation, you have not accomplished some great feat that entitles you to be coddled by taxpayers. The government is not an endless pot of money that is there to support every little special interest cause no matter how bazaar the cause is.


Nero - My Hero
said
0 0

I mean, the unions could always hand out violins for the workers to play as the Greece falls off the planet.....


John
said
0 0

Typical union crap. Put themselves ahead of country


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