LOOKING FOR GREECE'S RESCUE
New Greece government cabinet has to face moment of truth. Primer Minister George Papandreu must win the vote of confidence in order to continue the speanding cuts programmes. Also, it is the main demand until the European Union and International Monetary Fund give to Greece a new aid package, the second since the global financial crisis exploded. Almost 12 bn euros are going to be given if the Greece parliament increase the austerity measures.
If the government survives the vote, Greece parliament will asked to back the latest speanding cuts (about 28 bn). The EU and the IMF have already said that they only release funs once the austerity measures have been voted through.
Demostrations and protests have been already reported in Athens, the capital, in the lasts days. Lots of people gathered in Syntagma Square to protest against the further austerity measures. Most people belive that the new aid package will not rescue Greece from its financial crisis, but it will produce a slavery relationship between Greece and BCE, instead.
Some voices in the Greek country have raised up awaring that if Greece doesn’t success in dealing with its debt, it would mean lots of losses for European Banks that hold Greek debt, including BCE. That is why the main protestors against this rescue plan are convinced that Greece is being sacrificated to save the Euro. Other specialists consulted strongly believe that Greece should give up trying to pay its colossal debt, about 150% of its annual GDP, which means 340 bn euros.
From now, the Greece government has seven days time to show to European financial organitzations that stepts are being done to reach the goals of reducing its debt by cutting public expenditure. But it is going to be a hard thing to do because the climate of protests against these social cuts has increased in the last days in Greece.
