Protests threaten to scupper Greek bail out

Wednesday 22nd February 2012

Public anger in Greece continues to mount at the latest public sector cuts and harsh austerity measures introduced by the government.

The cutbacks were implemented at the insistence of the International Monetary Fund and the European Union as a precondition of their approval of a second bail out deal for the country valued at £110billion.

The money may stop the country going bankrupt next month when Greece has to service some of its loans - but the damage caused by the cuts may be more far reaching.

Protestors were today gathering in the Greek capital Athens amid growing fury at measures such as cutting the current 751 euro minimum monthly wage by 22% and further cuts to pensions.

Only last week, the Greek capital witnessed its worst rioting in years as the austerity measures were debated in parliament.

Today it is braced for more trouble.

With elections in the country due in two months, those parties opposed to the austerity measures are set to make significant gains and could seize power which could have huge implications for Greece's financial future.

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Mike Jones