February 7th, 2012
02:26 AM ET

Greek unions set to strike over new austerity demands

Greek union members are expected to go on a daylong strike Tuesday to protest new austerity measures sought by foreign lenders as the country negotiates to keep its finances afloat.

Officials in Greece are under pressure to reach an agreement on a new bailout package with the threat of a default hanging over the country.

Prime Minister Lucas Papademos met with officials from the European Union, International Monetary Fund and European Central Bank on Monday to try and hammer out the details of a €130 billion bailout deal.

Greece needs the money to avoid defaulting on a €14.5 billion bond redemption in March. The concern is that a so-called disorderly default could force Greece out of the euro monetary union and shock the global financial system.

Post by:
Filed under: Economy • Politics • World
soundoff (9 Responses)
  1. fernace

    Hello, the global financial system is already in shock! You mean it can get worse? That truly su.cks, because that means it can get worse here too! I'm starting to warm up to Gingrichs idea of a Moon Colony & ditch this seriouly troubled planet! Who else wants to go??

    February 7, 2012 at 3:57 am | Report abuse |
  2. Chuck Norris

    I'll go Newt! I just endorsed you,we can bring Cheney and we can find those WMDs once and for all.

    February 7, 2012 at 5:03 am | Report abuse |
  3. Brandy Clinton

    Several Greek unions might feel that they are being pushed to the wall, that is why they are forced to make an action.

    February 7, 2012 at 5:19 am | Report abuse |
  4. gung hoe

    @fernace hope the dating is goin better than the last time we talked?Just curious have you heard why newt wants to go to the moon? it isnt to live but to mine the very rare minerals that are there.The chi nese are already planning on doing it.

    February 7, 2012 at 8:40 am | Report abuse |
  5. fernace

    Morning, gung ho, that's even better! I'll have a fulltime job digging for minerals & might even get a date w/a cute moon man! It's all good!!Lol!

    February 7, 2012 at 8:46 am | Report abuse |
  6. BOMBO ©

    "Greek unions set to strike". Also, the sky is blue and water is wet. Anyone who knows Greece knows that "No Current Major Strikes Happening in Greece" would be a much more shocking headline. And, Newt is not aerodynamic enough to launch to the moon, so everyone should stop dreaming.

    February 7, 2012 at 10:32 am | Report abuse |
  7. Greek American

    I love a nice and extended strike. Gives me more time to drink coffee, wine, smoke cigs, and socialize.

    February 7, 2012 at 11:11 am | Report abuse |
  8. pmk1953

    Newt appears to have a large rocket (@ss). Just feed him enough refried beans and cabbage and he should have enough thrust. With enough thrust even a brick will fly.

    February 7, 2012 at 1:27 pm | Report abuse |
  9. phil mccanless

    The abolition of the unions should have been a condition for bailout money in the first place. It seems like humanity will never figure out that you can't have both an economy and a welfare-state. I hope at least one relatively free market exists somewhere in the world so that humanity doesn't starve itself to death trying to be good little socialists. And I hope it's free enough to sustain the needs of 7 billion people.

    February 12, 2012 at 3:26 am | Report abuse |