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Corruption, Job Cuts In Greece Leads To Strike Action

A week of walkouts from city workers culminated in a rally outside parliament – rubbish collectors, bus drivers and bank employees demonstrated against government plans … Continue reading Corruption, Job Cuts In Greece Leads To Strike Action


A week of walkouts from city workers culminated in a rally outside parliament – rubbish collectors, bus drivers and bank employees demonstrated against government plans to fire thousands of public sector workers.

Athens has to reduce its civil service in order to receive more bailout funds from its international lenders and parliament is due to vote on the reforms.

The latest round of cuts has provoked uproar from Greeks, who are already struggling with an unemployment rate of 27%.

There’s also a lot of anger about the perceived corruption of the political classes.

Greece’s parliament voted on Tuesday to press criminal charges against a former Finance Minister in a scandal over a list of potential tax evaders.

George Papaconstantinou is accused of tampering with the list, after three of his relatives were deleted from it, an accusation he denied.

“I am not to blame for all this country’s ills. It is not just unfair to try to pin the sins of previous governments from both parties on me – it is something more than that. It is dishonorable.”

There will now be a new probe into the case and Papaconstantinou could be sent to prison if found guilty.

But Greek ministers can only be prosecuted if parliament lifts their immunity.

It all adds to the instability in Greece and other struggling euro zone countries, says Jan Lambregts from Rabobank.

According to Jan Lambregts, the Global Head of Financial Markets Research, Rabobank, proper care has to be taken on the matter so as for it not to escalate and become a rebound for the generation.

“If you do look at these countries, the difficult process they’re going through, we can’t be too relaxed, you have to keep a close eye on this as these things can escalate, as whole generations are in trouble and are looking at a very tough future indeed.”

Greece may well be rocked by protests again on Thursday – when German Finance Minister Wolfgang Schaeuble visits Athens.

Many blame Germany for the tough austerity policies which have led to the wage cuts and joblessness.