European Economic News

Greek Unions Call For Protest During Merkel Visit On Tuesday

Greek labor unions have called for a strike and massive protests in Athens during the visit of German Chancellor Angela Merkel on Tuesday.

The rally, to be held by the country's two main labor unions for private and public sector workers, will take place on Tuesday afternoon.

Merkel's visit comes at a time when the discussions between the troika and the Greek government looks to drag on further amid disagreement over the EUR 13.5 billion of austerity measures.

Greek Prime Minister Antonis Samaras has admitted that Greece is in dire need of the EUR 31.5 billion loan payment, which will be disbursed only if the troika finds the country's debt is sustainable. In an interview last week, Samaras said that Greece may run out of cash by end-November.

The Finance Ministry's 2013 draft budget, presented last week, included about EUR 7.8 billion worth of austerity measures for next year. The government predicts the gross domestic product to contract 3.8 percent in 2013 after a 6.5 percent decline in 2012.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

More European Economic News