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| Eurozone crisis live: Strikes in Greece as Europe demands more cuts | Eurozone crisis live: Strikes in Greece as Europe demands more cuts |
| (40 minutes later) | |
| 11.25am: LAOS leader George Karatzaferis is due to give a press conference in a few minutes in Athens – and it could be significant. | |
| UPDATE: It's been delayed until noon GMT / 2pm local time | |
| Laos political aides say that Karatzaferis wants to "speak to the people" through the press*. They say he is furious that he was not consulted about the final deal which Evangelos Venizelos presented in Brussels last night. | |
| Could he, as the rumour mill suggests (10.41am), quit the coalition? | |
| * - it's a two-way process, so keep those comments coming.... | |
| 11.20am: Word is also spreading on the streets that a government ministry has been occupied by protestors (as we flagged up at 10.41am). Helena Smith reports that demonstrators are being encouraged to head over there. | |
| As kizbot points out in the comments below: | |
| 'Κατάληψη' or 'occupation' of a building is a common form of protest here.. especially in schools and universities. I wouldn't take it as a major sign of revolution | |
| 11.11am: At Syntagma Square, our correspondent Helena Smith finds more people than ever before are saying that Greece should leave the eurozone. | |
| That view conflicts with polls that have shown the vast majority of Greeks wanting to hang onto their euros, and not revert to the drachma. | |
| But Despoina Koutoulouglou argued that it would be better to leave the single currency: | |
| Under these terms why would we want to stay? | |
| They are turning us into a sort of India with slave wages. | |
| Koutoulouglou described herself as a member of the "500 euro generation" - a term used to describe young people who only receive low wages and are unable to leave their parents' home. | |
| 11.07am: Police bearing riot shields and protective helmets are now lined up outside the Greek parliament. | |
| The protests still appear peaceful at this stage. | |
| 10.41am: Rumours are sweeping Greece that Laos, the far-right junior party in Lucas Papademos's coalition government, might quit the administration. | 10.41am: Rumours are sweeping Greece that Laos, the far-right junior party in Lucas Papademos's coalition government, might quit the administration. |
| George Karatzaferis, the Laos leader, is reportedly meeting with Papademos now. A press conference is scheduled for 1.30pm local time (11.30am GMT), local media report (just checking this out now). | George Karatzaferis, the Laos leader, is reportedly meeting with Papademos now. A press conference is scheduled for 1.30pm local time (11.30am GMT), local media report (just checking this out now). |
| There are also reports that workers have occupied an office of the Ministry of Finance: | There are also reports that workers have occupied an office of the Ministry of Finance: |
| Ορθή επανάληψη: Κατάληψη στο υπουργείο Οικονομικών στη Φιλελλήνων από υπαλλήλους twitter.com/naftemporiki/s… | Ορθή επανάληψη: Κατάληψη στο υπουργείο Οικονομικών στη Φιλελλήνων από υπαλλήλους twitter.com/naftemporiki/s… |
| — naftemporiki (@naftemporiki) February 10, 2012 | — naftemporiki (@naftemporiki) February 10, 2012 |
| 10.36am: The front page of the mass-selling Ta Nea sums up the mood, Helena Smith reports from Athens. | 10.36am: The front page of the mass-selling Ta Nea sums up the mood, Helena Smith reports from Athens. |
| It declares: | It declares: |
| "Citizens speak: We have turned fifty years back." "A cold war [has erupted] with our lenders." | "Citizens speak: We have turned fifty years back." "A cold war [has erupted] with our lenders." |
| Helena confirms that another MP, Pavlos Stasinos, has indeed resigned from the socialist Pasok party in "disgust" over the agreement. Throughout the morning MPs have been ringing into radio shows to have their voices heard -- the vast majority being far too afraid to be seen in public . Many said they would vote with their "conscience" come Sunday when the controversial loan agreement is put before the Greek parliament for endorsement. The effects of the accord, they argued, would be as bad as bankruptcy itself. "If we vote these measures through we are setting in motion the bankruptcy of our country," said Odyyseus Boudouris, a parliamentarian with the socialist Pasok party. "The dilemma we are faced with is awful and wrong. But bankruptcy won't just be bad for Greece, it will be bad for our partners in the EU." | Helena confirms that another MP, Pavlos Stasinos, has indeed resigned from the socialist Pasok party in "disgust" over the agreement. Throughout the morning MPs have been ringing into radio shows to have their voices heard -- the vast majority being far too afraid to be seen in public . Many said they would vote with their "conscience" come Sunday when the controversial loan agreement is put before the Greek parliament for endorsement. The effects of the accord, they argued, would be as bad as bankruptcy itself. "If we vote these measures through we are setting in motion the bankruptcy of our country," said Odyyseus Boudouris, a parliamentarian with the socialist Pasok party. "The dilemma we are faced with is awful and wrong. But bankruptcy won't just be bad for Greece, it will be bad for our partners in the EU." |
| 10.14am: Maria Verivaki has got in touch to report that there is disruption in the city of Hania, on Crete: | 10.14am: Maria Verivaki has got in touch to report that there is disruption in the city of Hania, on Crete: |
| main roads closed in hania centre of town due to marches, approx 800m stretch; my cabbie husband simply avoids this road | main roads closed in hania centre of town due to marches, approx 800m stretch; my cabbie husband simply avoids this road |
| Another reader in Greece, James Wilkins, says he would be happier if "this charade" was over, and Greece had defaulted: | Another reader in Greece, James Wilkins, says he would be happier if "this charade" was over, and Greece had defaulted: |
| It will mean many horrible years for the Greeks, but at least the world will have to find another country to scapegoat. | It will mean many horrible years for the Greeks, but at least the world will have to find another country to scapegoat. |
| The Greeks will survive, they always do, but other eurozone countries, including Germany, and Britain and America too, will struggle. I look forward to the time when Greece has forgotten this experiment with borrowed capital ( from which other countries benefited) and goes back to being what it once was - a poor little country on the south of Europe where people, despite the poverty, enjoy life. | The Greeks will survive, they always do, but other eurozone countries, including Germany, and Britain and America too, will struggle. I look forward to the time when Greece has forgotten this experiment with borrowed capital ( from which other countries benefited) and goes back to being what it once was - a poor little country on the south of Europe where people, despite the poverty, enjoy life. |
| 9.58am: Greek media are reporting another resignation over the austerity plan -- Pavlos Stasinos, a Pasok (socialist) MP. That would be the third since Greece's leaders agreed to the draft agreement. Yesterday, a Pasok deputy labour minister and a New Democracy deputy both quit, saying they could not accept the demands being made on the Greek people. | 9.58am: Greek media are reporting another resignation over the austerity plan -- Pavlos Stasinos, a Pasok (socialist) MP. That would be the third since Greece's leaders agreed to the draft agreement. Yesterday, a Pasok deputy labour minister and a New Democracy deputy both quit, saying they could not accept the demands being made on the Greek people. |
| 9.46am: Helena Smith, our correspondent in Athens, says the mood among protestors is far from mild. | 9.46am: Helena Smith, our correspondent in Athens, says the mood among protestors is far from mild. |
| "They are crooks and thieves," the crowds have been screaming outside the 300-seat House. "Our politicians should live on a minimum wage to see what it's like" railed Iphighenia Kontou, a laid off shop assistant. "What have these measures achieved? None of them have worked and they want more? " "We want justice," screamed a group of hospital workers. "They are tearing down our state," said Giorgos Klonizakis, a doctor. "People can't get basic healthcare any more. They want us to pay off our country's debts at the expense of everything else. Why hasn't one person gone to prison yet for all the corruption, all the wrongdoing that got us here in the first place?" "For a long time we accepted these measures because we understand that Greece needs change," said a mechanic requesting anonymity. "But they've got us nowhere and it's now the third year! The middle class is being torn apart. To ask for more when there is no more to cut is foolish and dangerous." | "They are crooks and thieves," the crowds have been screaming outside the 300-seat House. "Our politicians should live on a minimum wage to see what it's like" railed Iphighenia Kontou, a laid off shop assistant. "What have these measures achieved? None of them have worked and they want more? " "We want justice," screamed a group of hospital workers. "They are tearing down our state," said Giorgos Klonizakis, a doctor. "People can't get basic healthcare any more. They want us to pay off our country's debts at the expense of everything else. Why hasn't one person gone to prison yet for all the corruption, all the wrongdoing that got us here in the first place?" "For a long time we accepted these measures because we understand that Greece needs change," said a mechanic requesting anonymity. "But they've got us nowhere and it's now the third year! The middle class is being torn apart. To ask for more when there is no more to cut is foolish and dangerous." |
| Helena ads that the unions appear to have achieved a good turn out -- what's not clear yet is whether today's march (like so many before) will descend into violence. She adds: | Helena ads that the unions appear to have achieved a good turn out -- what's not clear yet is whether today's march (like so many before) will descend into violence. She adds: |
Riot police armed with stun guns and tear gas cannisters are out in force -- lined up in armour like medieval soldiers in the narrow streets beneath Syntagma square around the finance ministry. Most are young - much younger than many of the protestors out there. | Riot police armed with stun guns and tear gas cannisters are out in force -- lined up in armour like medieval soldiers in the narrow streets beneath Syntagma square around the finance ministry. Most are young - much younger than many of the protestors out there. |
| 9.25am: Update on the strikes -- people are gathering in Syntagma square, the area in the centre of Athens outside its parliament. | 9.25am: Update on the strikes -- people are gathering in Syntagma square, the area in the centre of Athens outside its parliament. |
| Some are carrying loudspeakers, and Reuters reports that slogans are being chanted across the square -- including: | Some are carrying loudspeakers, and Reuters reports that slogans are being chanted across the square -- including: |
| No to layoffs! No to salary cuts! No to pension cuts! Do not bow your heads! Resist! | No to layoffs! No to salary cuts! No to pension cuts! Do not bow your heads! Resist! |
| Teachers, hospital staff and bank employees are all joining in the strike, although we don't get have details of how many people are taking part in the industrial action. | Teachers, hospital staff and bank employees are all joining in the strike, although we don't get have details of how many people are taking part in the industrial action. |
| There were marches on the streets of Athens on Tuesday during another general strike -- turnout wasn't as high as at some previous demo's, partly due to heavy rain in the city. Today's marches will be closely watched to show the level of public anger. | There were marches on the streets of Athens on Tuesday during another general strike -- turnout wasn't as high as at some previous demo's, partly due to heavy rain in the city. Today's marches will be closely watched to show the level of public anger. |
| 9.04am: We recently created a Flickr page called "Greece - life in an economic crisis", where readers can upload their own pictures from the country (hat-tip Laura Oliver). It's still open – Greek readers might wish to upload their images. | 9.04am: We recently created a Flickr page called "Greece - life in an economic crisis", where readers can upload their own pictures from the country (hat-tip Laura Oliver). It's still open – Greek readers might wish to upload their images. |
| 8.59am: If you're in Greece today -- we'd be very grateful to hear how the strike is affecting you. Are you taking part? Do you support the action? | 8.59am: If you're in Greece today -- we'd be very grateful to hear how the strike is affecting you. Are you taking part? Do you support the action? |
| Let us know in the comment below, or via email (graeme.wearden@guardian.co.uk) or Twitter (@graemewearden). | Let us know in the comment below, or via email (graeme.wearden@guardian.co.uk) or Twitter (@graemewearden). |
| Many thanks again if you helped out with this on Tuesday. | Many thanks again if you helped out with this on Tuesday. |
| 8.51am: The Greek transport system has been disrupted this morning as the 48-hour strike called by the country's two biggest unions gets under way. | 8.51am: The Greek transport system has been disrupted this morning as the 48-hour strike called by the country's two biggest unions gets under way. |
| Some railway, ferry and public transport schedules are suspended, as this picture shows. | Some railway, ferry and public transport schedules are suspended, as this picture shows. |
| Unions are planning to hold protests several cities, including Athens, around midday local time (10am GMT). | Unions are planning to hold protests several cities, including Athens, around midday local time (10am GMT). |
| 8.41am: Germany will vote in 17 days on whether Greece should receive its second bailout. | 8.41am: Germany will vote in 17 days on whether Greece should receive its second bailout. |
| Klaus Ernst, the co-leader of the opposition Left Party, has just told reporters that Angela Merkel briefed the leaders of the five parties in the lower parliamentary chamber about the Greek situation. According to Ernst: | Klaus Ernst, the co-leader of the opposition Left Party, has just told reporters that Angela Merkel briefed the leaders of the five parties in the lower parliamentary chamber about the Greek situation. According to Ernst: |
| We will probably have a special meeting of the Bundestag on February 27 to make decisions. | We will probably have a special meeting of the Bundestag on February 27 to make decisions. |
| Another hurdle for the Greek bailout package to clear. | Another hurdle for the Greek bailout package to clear. |
| As I understand it (but I am very happy to be corrected) every eurozone parliament must give its approval to the €130bn package -- in the same way that they approved the changes to the eurozone bailout fund last autumn (although Slovakia initially opposed it). The French government gave its approval last September (when the bailout was a mere €109bn). | As I understand it (but I am very happy to be corrected) every eurozone parliament must give its approval to the €130bn package -- in the same way that they approved the changes to the eurozone bailout fund last autumn (although Slovakia initially opposed it). The French government gave its approval last September (when the bailout was a mere €109bn). |
| The immediate deadline, though, is next Wednesday – when the eurogroup of finance ministers meets again. | The immediate deadline, though, is next Wednesday – when the eurogroup of finance ministers meets again. |
| That gives the Greek government just five days to meet the new demands, which Elizabeth Afseth of Investec says will be challenging: | That gives the Greek government just five days to meet the new demands, which Elizabeth Afseth of Investec says will be challenging: |
| Specifying another €325m in savings will not be easy and getting the party leaders to sign up for it may be even trickier with an election looming. | Specifying another €325m in savings will not be easy and getting the party leaders to sign up for it may be even trickier with an election looming. |
| Although as regular commentator RobertSchuman points out below, the €325m does not represent an increase on the original target of €3.3bn of budget savings. The eurogroup is demanding deeper cuts than contained in the plan that Greece politicians agreed to on Thursday. | Although as regular commentator RobertSchuman points out below, the €325m does not represent an increase on the original target of €3.3bn of budget savings. The eurogroup is demanding deeper cuts than contained in the plan that Greece politicians agreed to on Thursday. |
| 8.14am: Most of Europe's stock markets have opened lower this morning. The FTSE 100 index dropped 30 points to 5864, a drop of around 0.5%. | 8.14am: Most of Europe's stock markets have opened lower this morning. The FTSE 100 index dropped 30 points to 5864, a drop of around 0.5%. |
| That's partly due to disappointment over Greece, but shares have also been dented by disappointing trade data from China suggesting the global economy is slowing. | That's partly due to disappointment over Greece, but shares have also been dented by disappointing trade data from China suggesting the global economy is slowing. |
| Greek bonds have dropped in value this morning, as economist Shaun Richards points out on Twitter: | Greek bonds have dropped in value this morning, as economist Shaun Richards points out on Twitter: |
| The response to the new austerity is for the one-year bond yield in Greece to rise back above 500%. Some rescue! #gfc2 #euro #eurochat | The response to the new austerity is for the one-year bond yield in Greece to rise back above 500%. Some rescue! #gfc2 #euro #eurochat |
| — Shaun Richards (@notayesmansecon) February 10, 2012 | — Shaun Richards (@notayesmansecon) February 10, 2012 |
| 8.09am: Evangelos Venizelos has said that Greece must decide whether it wants to remain in the eurozone. | 8.09am: Evangelos Venizelos has said that Greece must decide whether it wants to remain in the eurozone. |
| The Greek finance minister told journalists that the Eurogroup have left Greece with a clear choice -- accept more austerity measures that its international lenders demand, or leave the euro. | The Greek finance minister told journalists that the Eurogroup have left Greece with a clear choice -- accept more austerity measures that its international lenders demand, or leave the euro. |
| Speaking after the talks broke up, Venizelos said: | Speaking after the talks broke up, Venizelos said: |
| From today until the next meeting of the eurogroup, our country, our homeland, our society has to think and make a definitive, strategic decision. | From today until the next meeting of the eurogroup, our country, our homeland, our society has to think and make a definitive, strategic decision. |
| If we see the salvation and future of the country in the euro area, in Europe, we have to do whatever we have to do to get the program approved. | If we see the salvation and future of the country in the euro area, in Europe, we have to do whatever we have to do to get the program approved. |
| Venizelos also criticised politicians who have criticise the austerity measures forced on Greece : | Venizelos also criticised politicians who have criticise the austerity measures forced on Greece : |
| Nobody can keep pretending to be the good guy....The era of easy choices and demagoguery is over. | Nobody can keep pretending to be the good guy....The era of easy choices and demagoguery is over. |
| Greek ekathimerini.com , Friday February 10, 2012 (02:09) | Greek ekathimerini.com , Friday February 10, 2012 (02:09) |
| 7.49am: Jean-Claude Juncker, the prime minister of Luxembourg who chairs the Eurogroup*, was adamant last night that Greece had not done enough – yet – to receive a second rescue package. | 7.49am: Jean-Claude Juncker, the prime minister of Luxembourg who chairs the Eurogroup*, was adamant last night that Greece had not done enough – yet – to receive a second rescue package. |
| Juncker said that the €325m shortfall must be addressed within days. The Greek parliament must also approve the wide-ranging reform plan, and the various leaders of its political parties must also pledge to enforce the plan. | Juncker said that the €325m shortfall must be addressed within days. The Greek parliament must also approve the wide-ranging reform plan, and the various leaders of its political parties must also pledge to enforce the plan. |
| Juncker told a press conference in Brussels his position was clear: | Juncker told a press conference in Brussels his position was clear: |
| In short, no disbursement without implementation. | In short, no disbursement without implementation. |
| Neat, but not quite as catchy as 'No taxation without representation'. In this case, of course, there is no shortage of taxation: | Neat, but not quite as catchy as 'No taxation without representation'. In this case, of course, there is no shortage of taxation: |
| The €325m black hole in the Greek budget plan was caused by the heads of its coalition parties rejecting pension reductions. If the missing funds can't be obtained there, prime minister Lucas Papademos will have to reach agreement on alternative spending cuts or tax rises. | The €325m black hole in the Greek budget plan was caused by the heads of its coalition parties rejecting pension reductions. If the missing funds can't be obtained there, prime minister Lucas Papademos will have to reach agreement on alternative spending cuts or tax rises. |
| * - the group of 17 finance ministers from eurozone countries | * - the group of 17 finance ministers from eurozone countries |
| 7.42am: My colleague Ian Traynor reported earlier this morning that the Troika of Greece's lenders voiced exasperation with Greek "delaying tactics". | 7.42am: My colleague Ian Traynor reported earlier this morning that the Troika of Greece's lenders voiced exasperation with Greek "delaying tactics". |
| Ian writes: | Ian writes: |
| Despite announcements earlier that the coalition government in Athens had yielded to savage new terms from the eurozone to qualify for the bailout, the eurozone finance ministers were unimpressed. The emphasis was on first getting Greece to deliver its side of the bargain. | Despite announcements earlier that the coalition government in Athens had yielded to savage new terms from the eurozone to qualify for the bailout, the eurozone finance ministers were unimpressed. The emphasis was on first getting Greece to deliver its side of the bargain. |
| "On the condition that the Greek parliament takes decisions on the prior actions over the coming days, then next week we can finalise decision on the overall package," said Olli Rehn, the European commissioner for monetary affairs. | "On the condition that the Greek parliament takes decisions on the prior actions over the coming days, then next week we can finalise decision on the overall package," said Olli Rehn, the European commissioner for monetary affairs. |
| "It's up to the Greek government by concrete actions through legislation and other actions to convince its European partners that the second [bailout] programme can be made to work." | "It's up to the Greek government by concrete actions through legislation and other actions to convince its European partners that the second [bailout] programme can be made to work." |
| 7.35am: Good morning. Greece's hopes of receiving its second rescue package received a setback overnight, as its Eurozone partners warned that Athens has not met the terms of the €130bn bailout. | 7.35am: Good morning. Greece's hopes of receiving its second rescue package received a setback overnight, as its Eurozone partners warned that Athens has not met the terms of the €130bn bailout. |
| Meeting in Brussels last night, European finance ministers studied the plan presented by the Athens government yesterday and concluded that it was incomplete. | Meeting in Brussels last night, European finance ministers studied the plan presented by the Athens government yesterday and concluded that it was incomplete. |
| The European central bank, the European commission, and the International Monetary Fund are now demanding €325m in further cuts to this year's budget before it will approve the rescue package. | The European central bank, the European commission, and the International Monetary Fund are now demanding €325m in further cuts to this year's budget before it will approve the rescue package. |
| The news comes as Greek workers begin a nationwide two-day strike in protest at the austerity measures that coalition leaders reluctantly signed up for this week. Unions have warned that the country now faces a "social uprising". | The news comes as Greek workers begin a nationwide two-day strike in protest at the austerity measures that coalition leaders reluctantly signed up for this week. Unions have warned that the country now faces a "social uprising". |