{"id":33347,"date":"2017-05-18T06:02:37","date_gmt":"2017-05-18T06:02:37","guid":{"rendered":"http:\/\/en.bornomalanews.com\/?p=33347"},"modified":"2017-05-18T06:02:37","modified_gmt":"2017-05-18T06:02:37","slug":"greeks-join-nationwide-strike-over-new-cut","status":"publish","type":"post","link":"https:\/\/en.bornomalanews.com\/?p=33347","title":{"rendered":"Greeks join nationwide strike over new cut"},"content":{"rendered":"

\"MembersThe strike is aimed against new pension and tax break cuts forced on Greece by its EU-IMF creditors in return for bailout cash<\/h2>\n
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A 24-hour strike gripped Greece on Wednesday, disrupting travel and shutting down services, as unions mobilised against a new round of austerity cuts imposed by the country\u2019s international creditors.<\/p>\n

The walkout cut off maritime traffic for a second day while dozens of flights had to be cancelled or rescheduled and hospitals ran on emergency staff.<\/p>\n

Separate protests will be held in Athens and other major cities during the day.<\/p>\n

\u201cWe want to send a decisive message to the government, the European Union and the International Monetary Fund that we will not let them cut up our lives,\u201d Alekos Perrakis, a senior member of Communist union PAME, told reporters.<\/p>\n

The mobilisation is aimed against new pension and tax break cuts forced on Greece by its EU-IMF creditors in return for bailout cash.<\/p>\n

Overall, the bill to be approved on Thursday night entails \u20ac4.9 billion ($5.4 billion) in cuts in 2018-2021, state agency ANA said.<\/p>\n

The leftist government of Prime Minister Alexis Tsipras grudgingly accepted to legislate another round of pension cuts and lower tax breaks \u2013 applicable in 2019 and 2020 respectively \u2013 to unlock the cash payment ahead of looming debt repayments in July.<\/p>\n

The tax break cut on its own \u201cis tantamount to losing one-and-a-half (months\u2019) salary,\u201d Perrakis said.<\/p>\n

In return, Greece will enact poverty support measures \u2013 such as subsidies on rent and medicine \u2013 over the same period of time.<\/p>\n

Police unionists unfurled a huge black banner from Lycabettus Hill atop Athens in German and Greek, addressed to German Chancellor Angela Merkel and Prime Minister Alexis Tsipras.<\/p>\n

\u201cWhat is the life of a police officer worth?\u201d it asked, referring to the cuts.<\/p>\n

Under Merkel and her Finance Minister Wolfgang Schaeuble, eurozone powerhouse Germany has been pushing Greece for the past seven years to make recurring cuts in return for bailout cash.<\/p>\n

Germany has footed an important share of Greece\u2019s three rescue bailouts since 2010.<\/p>\n

Athens hopes that the loan payment will be approved by a meeting of eurozone finance ministers on May 22.<\/p>\n

It also expects a clear pledge later this month on measures to ease repayment on its huge public debt, which represented 179% of annual output at the end of last year.<\/p>\n

Athens also hopes to be finally allowed access to the European Central Bank\u2019s asset purchase programme, known as quantitative easing, or QE, to help its return to bond markets.<\/p>\n

There is speculation that Greece plans to issue a three or five-year bond in July.<\/p>\n

The Finance Ministry declined to comment on the issue on Wednesday.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The strike is aimed against new pension and tax break cuts forced on Greece by its EU-IMF creditors in return for bailout cash A 24-hour strike gripped Greece on Wednesday, disrupting travel and shutting down services, as unions mobilised against a new round of austerity cuts imposed by the country\u2019s international creditors. The walkout cut […]<\/p>\n","protected":false},"author":7,"featured_media":33348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n