Violent riots in Greece

Alina Vasiescu (Tradus de Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 6 mai 2010

The Greek protestors were yelling: "People of Europe, rise!"

The Greek protestors were yelling: "People of Europe, rise!"

Over 20,000 protesters demonstrated yesterday on the streets of Athens

Over 14,000 people attended protests in Salonic

Three people died in a fire at a branch of "Marfin Egnatia Bank"

Unionists want "the rich to pay" for the current crisis

Greek officials uninterested in the protests

Over 20,000 protesters took to the streets of Athens yesterday, and around 14,000 in Salonic, rioting violently. as part of the general strike launched by the major Greek unions in signs of protest against the austerity plan of the government.

Numerous protesters reached the Parliament of Athens, where the austerity measures requested by the European Union and the International Monetary Fund in return for the release of the EUR 110 billion bailout were being discussed. The Parliament was supposed to vote on the austerity measures, which include freezing wages and raising taxes.

Before the Parliament, protesters threw bottles at the Police, with the latter using tear gas to disperse protesters.

Also yesterday three people died after the headquarters of a branch of "Marfin Egnatia Bank" was set on fire, as were shops and other buildings in the center of Athens.

Protesters called for a "fight against the antisocial measures", demanding that the "rich pay for the current crisis". Yesterday"s protests were organized by the Confederation of private sector employees (GSEE) and the one of

public sector workers (ADEDY), which followed the previous day"s strike. In turn Pame, the union affiliated with the Greek Communist Party (KKE), which has traditionally refused getting involved in any protests, this time gathered roughly 10,000 people in the Greek capital.

"The Greek people is being asked to make sacrifices, while the rich won"t pay anything ", said the leader of the GSEE, Giannis Panagopoulos.

Anargyros Bizianis, aged 61, an employee of the mayoralty of Piraeus, who makes EUR 900 a month, said, quoted by the foreign media: "The government will take everything away, I have no idea how I"m going to survive".

Barbara Tzerbou, a 37 year old lawyer said: "These measures are unfair and they should apply to the politicians who were in power over the last 30 years, and who brought us where we are now. The prime-minister had many choices, he didn"t have to go to the IMF".

However, Athens officials hold their ground: "We"ve had many strikes and protests over the years, in Greece, without any major consequences. We are used to it".

"IMF, leave!"

The protesters also stood before the headquarters of the Ministry of Finance, where they were yelling: "IMF, get out!".

Over 50% of Greeks oppose the new austerity measures, which is why they joined the protests.

On the other hand, the IMF officials say that they understand the ire of the Greek people and the fact that it is unable to grasp the extent of its economic disaster. In the opinion of the IMF, the EU and the Fund are both looking to help Greece, and if they were not to do so, then things "would be infinitely worse".

The strike yesterday froze Greece"s transports, including airline traffic, schools, hospitals, and retail centers. Gas stations were closed, as their owners were protesting the rise in fuel excises.

No papers will be appearing today in Greece, as journalists joined the strike.

Euro - below 1.29 for a dollar, the lowest rate since March 2009

The European currency yesterday depreciated against the dollar, reaching an annual low, amid fears of contagion related to the Greek crisis. "Moody"s Investors Service" began monitoring the rating of Portugal"s bonds (Aa2), with a view of a downgrade.

For the first time since March 2009, the Euro yesterday dropped below the 1.29 threshold: 1.2894 dollars at 8:44 a.m., New York, from 1.2987 dollars the day before. The Euro had previously dropped to 1.2883 dollars - the lowest rate since March 16th 2009.

The Euro reached 4.19 lei, after the Greek riots

Investors rushed into the Romanian currency market at the end of yesterday"s session, by massively buying Euros, following the Greek events.

"The market is struck by panic after the violent attacks in Greece", a dealer said for Bursa.

Other regional currencies depreciated against the Euro.

The world"s stock markets dropped as well. The Nasdaq and Dow Jones indexes of the NYSE (New York Stock Exchange), dropped almost 1%, after the Greek riots. Yesterday three people died in a fire caused by rioters who were protesting the austerity measures which the Government plans to introduce soon. (Izabela Sîrbu)

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