Gridlock in Greece
So, time is running out for the Greek government to put a plan in place in the interest of avoiding complete economic catastrophe. Too bad Prime Minister George Papandreou’s austerity-tastic ideas are failing to win over the protesters making their displeasure very clear outside the parliament complex in Athens. –KA
Thousands of protesters have gathered outside parliament in the capital where public transport has ground to a halt.
PM George Papandreou has said that only his 28bn-euro (£25bn) austerity plan would get Greece back on its feet.
If the package is not approved, Greece could run out of money within weeks.
Without a new plan in place, the EU and IMF say they will withhold 12bn euros of loans which Greece needs to repay debts due in mid-July.