Friday, February 10, 2012

Greek unions call two-day strike, protests (AP)

BRUSSELS ? A person close to Greece's international debt inspectors is denying that the country's politicians have been given an extra 15 days to agree to a euro300 million cut in pensions.

Greek party leaders earlier Thursday failed to agree on the cuts in all-night talks. A Greek parliamentarian claimed later that the politicians had been given 15 days to find an alternative way to save this amount.

But a person close to the so-called troika said that claim was "not correct."

He said instead the country has to agree euro325 million in savings on top of the euro300 million in pension cuts and that it has been given 3 weeks to identify how to do that.

The person was speaking on condition of anonymity because of the sensitivity of the talks.

The cuts are key conditions for a second, euro130 billion bailout for Greece.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

ATHENS, Greece (AP) ? Greek labor unions have called a two-day general strike starting Friday to protest new cutbacks decided to secure the country's vital rescue loan program.

A senior official in the ADEDY civil servant union says protest rallies will be held outside Parliament in central Athens on the two days, and on Sunday when lawmakers are expected to vote on the new austerity measures.

Ilias Iliopoulos told the AP Thursday that the decision was taken together with the main private sector GSEE union.

Greek politicians approved job cuts and wage reductions in exchange for a crucial euro130 billion ($173 billion) bailout. The deal hit a snag on pension cuts, however. Finance Minister Evangelos Venizelos headed to Brussels to meet top EU officials, hoping to rescue the agreement and stave off bankruptcy.

Source: http://us.rd.yahoo.com/dailynews/rss/eurobiz/*http%3A//news.yahoo.com/s/ap/20120209/ap_on_bi_ge/eu_greece_financial_crisis

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