GREECE: Troika inspectors meet with ministers for the third day of talks over the austerity package as protesters on motorbikes keep up the pressure to stop further cuts

Record ID: 340897

  • Title: GREECE: Troika inspectors meet with ministers for the third day of talks over the austerity package as protesters on motorbikes keep up the pressure to stop further cuts
  • Date: 4th October 2012
  • Summary: ATHENS, GREECE (OCTOBER 3, 2012) (REUTERS) VARIOUS OF STRIKING MUNICIPAL WORKERS DRIVING ON MOTORBIKES AND HOLDING ORANGE FLAGS DURING PROTEST AGAINST AUSTERITY CUTS MUNICIPAL WORKER IN FRONT OF THE FINANCE MINISTRY WITH ORANGE FLAG MUNICIPAL WORKERS WITH FLAGS, SHOUTING 'Take the bailout and get out of here' PROTESTER SHOUTING: 'The fascist or us!' MORE OF PROTESTERS
  • Embargoed: 19th October 2012 13:00
  • Keywords:
  • Location: Greece
  • Country: Greece
  • Topics: International Relations,Economy,Politics
  • Reuters ID: LVA4NSYOEFA1RU9Z72XGNZB1DS7D
  • Story Text: Unions and public sector workers kept up the pressure on the government and the troika of inspectors from the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission on Wednesday (October 3) as they met with the development minister.
    The troika was holding talks for the third day running since returning to Athens, for another attempt at agreeing austerity measures to unlock the next tranche of bailout funding for Greece as it struggles to pay off its debts.
    The inspectors, who came back on Sunday after having partially rejected the government's first package of wage, welfare and pension cuts, said on Monday that they still needed further clarification over a portion of the measures.
    The meeting with the development minister on Tuesday centred around boosting competitiveness and removing market barriers. An official said there was no tension during the meeting. The troika is insisting on cracking down on small cartels and pushing for market liberalisation.
    The troika has held meetings with the finance and labour ministers as well as the prime minister during its visit.
    There have been daily protests over the austerity cuts with unions vowing to orchestrate a series of 48-hour strikes as soon as the measures are announced.
    Hundreds of municipal workers staged Wednesday's demonstration on the back of motorbikes. They were protesting against wage reductions and cutbacks in funding for municipalities.
    The city's trolleys were also on a 6-hour work stoppage and health care workers were expected to stage protests this week.
    The public sector workers say they have suffered enough wage cuts and are angry at reports that the troika is asking for job cuts in the public sector.
    "It is clear that the new measures are driving us into poverty and the municipalities towards collapse. We are against this and we will react and are ready to clash with the government and anyone who supports them," said Themis Balasopoulos, president of the National Municipal Workers Union, the POE-OTA.
    A government official said the troika is questioning the effectiveness of the measures related to structural reforms, but he added there were also differences of approach between the IMF and the ECB with the former wanting a new debt haircut, whilst the ECB is signalling it is against such an idea.
    The two sides need to bridge differences over 2 billion euros in the package of more than 11.5 billion euros of disputed spending cuts but time is running short to clinch a deal before a meeting of euro zone ministers on October 8.
    Athens has been haggling for weeks over the nearly 12 billion euros of cutbacks that its European Union and International Monetary Fund lenders have refused to sign off over fears that some of the proposed savings are unlikely to materialise.
    Tens of thousands of Greeks joined a demonstration last week during a general strike protest that turned violent.
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