Greeks protest over fresh austerity measures
Athens, Greece (AHN) – Thousands of Greek workers went back to the streets on Thursday to protest the fresh round of austerity measures the government had to put in place to qualify for more bailout from the European Central Bank and the International Monetary Fund.
To get $10.95 billion (EUR 8 billion) new tranche of aid, Athens had to reduce pensions further and stop hiring more public workers.
The “pound of flesh” cutbacks are part of a $150 billion (EUR 110 billion) loan package from the ECB and the IMF to help Greece avoid defaulting on its debt.
Among the drastic cuts made by Athens were to reduce by 20 percent of pensions that exceed $1,850 (EUR 1,200) a month, a 40 percent reduction on pensions over $1,370 (EUR 1,000) paid to Greeks below 55 years old and salary cuts for 30,000 state workers.
Athens also lowered the threshold on yearly salary to become subject to income taxation to $6,844 (EUR 5,000) from $10.952 (EUR 8,000).
Some teachers and civil servants joined the mass industrial action, while GSEE, the largest private sector union, called for more strikes in October to protest the new cost-cutting initiative.
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