Greek police issued a statement that any public gatherings and marches would be banned that time in a large area around the city center. (Follow the link to see the map below)
TROIKA isn't going to renegotiate Memorandum before its implementation!
Mr. Browne presses Klaus Masuch, head of the ECB's countries division, over the premises behind the ECB's approach to Ireland's fiscal issues.
Browne hits Masuch hard on the question of why the Irish people should be forced to protect unguaranteed bondholders...
Of course he never received a straight answer...
Watch the video below:
In his article in "Financial Times Deutschland", the famous economist Nouriel Roubini, who had predicted the global recession of 2008 in 2006, says that either this year or the next, Greece will be forced to go bankrupt and leave the eurozone. This will happen even if a government will finally be formed after the elections of June.
Mr. Roubini says that Greece has fallen into a vicious cycle of bankruptcy, lack of competitiveness and continuous recession.
Within the framework of the second memorandum in June, we expect new measures required by the Troika.
The Center for Economic Research of Greece, at the behest of the government, wrote the report contained in government expenditure intended to drastically cut.
Interventions of the measures of June include the following areas:
Education - Reduction in salary of kindergarten teachers, teachers, high school professors and academics, possibly with a parallel increase in their working hours.
According to the newspaper "Ta Nea" which published the confidential documents, analysts estimated that the 1st rescue package would not solve the economic problem of the country but on the other hand Greece could act as the "guinea pig" in order to send a warning message to undisciplined southern countries.
In fact, back on January 2010 when the European Commission criticized the unreliable Greek statistics and fired the spreads, analysts from Moody's were pointing out:
"Saying that the Greek statistics are unreliable is a very cheap way to reduce the bonds' prices and to push Greece for reforms... "
The fear of a Domino Effect
The main subject of the e-mails between the Moody's and the Stratfor institute, was the possibility of spreading the Greek crisis to other countries with fiscal problems. At the end of January, analysts supported the rescue of Greece since otherwise the crisis could be spread in Portugal and afterwards to stronger economies. However, at the same time informants from Greece were saying that Europe could let the country go bankrupt...
199 MPs said "YES" to the Memorandum. 78 MPs voted "NO"
17 MPs of "PASOK" and 19 from "New Democracy" party voted "NO"
Extended wage and pension cuts, dramatic increases in taxes, elimination of tax exemptions and public servants' permanency are only a few of the new austerity measures that the Greek Political leaders have agreed to implement under Troika's pressure!
More specifically, young employees (under 25) will work for 350€ per month (32% reduction) while the minimum wage is decreased by 22%. Pensioners will suffer large cuts in their earnings while public servants will be decreased by 150000 until 2015 (15000 employees will loose their jobs until the end of this year)!
In addition, new taxes are going to make the daily lives of Greeks unbearable and will create even more poverty and hopelessness...
According to the European Statistics authority 27,7% of the Greek population is living in poverty and social exclusion, while the highest poverty rates recorded in Romania and Bulgaria (41%), Latvia (38%), Lithuania (33%), Hungary (30%) and Poland (27.8%)!
More specifically, in Greece, 28.7% of children, 27.7% of the population aged 18 to 6 and 26.7% of people over 65 live into poverty.
These statistics refer to 2010 (in 2009 the same amount was 20%) so imagine how dramatic will be the reports for 2011 with the wage cuts, the unemployment and the new taxes!
I wonder if there will be any statistics at all for 2012...
Due to the strike the public transports will operate as following:
Buses will operate from 9 am to 9 pm.
Metro and trains and tram will operate form 10 am to 5 pm
Trolley buses will operate from 8 am to 9 pm.
TrainOSE and Proastiakos will be in a 24-hour strike.
Moreover, Greek Seamen Federation is planning to join the 24-hour strike, so ships, ferries will not operate from 00:01 Tuesday until 12:00 pm ths same day
After a long meeting on Sunday which will be continued on Monday the office of the Prime Minister issued the following statement:
Prime Minister and the political leaders agreed on key issues which are, among others:
1) The measures in 2012 to reduce public spending by 1.5% of GDP.
2) Ensuring the sustainability of supplementary pension funds.
More than 500 unionists shouted slogans like “Troika Go Home” and “Get Out of Greece” in order to protest against Troika’s interventions in the Greek private sector.
Troika wants the decrease of the minimum wage, the repealing of 13th and 14th salary and changes in the labor rights in order to approve a second rescue package for Greece.
Troika representatives requested the intervention of a prosecutor in order to leave the hotel but the protest ended at 10 a.m. without any intervention from the police.
Watch the video below:
"Without the agreement with the troika (the European Union, the International Monetary Fund, and the European Central Bank) and the resulting funding, Greece faces an immediate danger of disorderly default in March," Lucas Papademos told union leaders and employers' federations in Athens on Wednesday.
These statements came after the demands of Troika to reduce the minimum wage and eliminate 13th and 14th wage in private sector!
Mr. Papademos urged defiant union leaders to accept further income reductions targeting workforces. He insisted that the necessary decision for the country's future must be taken before the planned mid-January visit by debt inspectors from troika which would determine whether the country can hold onto the euro or it should return to its pre-2002 currency, the drachma.
The Troika inspectors will analyse the progress of deficit-cutting plans in order to determine whether it should be presented with a next tranche of 8 billion euro before the country goes bankrupt.
According to the plans, civil servants must be decreased by 22.4% from 775,994 to 602.472 people during the period 2010-2015!
IMF Poul Thomsen asked Greece to act with aggression in order to close unneeded state organizations and also keep on with non-voluntary dismissals, stating the content of the latest negotiations among the Greek government and the international lenders.
IMF demands that the public employment in Greece will be one of the lowest in the EU by 2015.
Noam Chomsky the famous American linguist, philosopher, cognitive scientist, political activist, author, and lecturer gave an interview at 'Vimagazino' magazine about the Greek economic crisis and the troika's actions in Greece.
Watch the video below as published by 'Vimagazino' magazine: