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Greek pensioners take to streets over cuts

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Greek pensioners protesting in Athens.

In Greece, angry pensioners have once again taken to the streets in the capital Athens to protest against the government’s tough spending cuts.

The pensioners gathered to express opposition with lawmakers’ decision to slash another 325 million euros in wages, pensions, and jobs, as demanded by the European Union and International Monetary Fund (IMF) in order to qualify for a loan.

The Greek parliament has just passed a controversial bill, including a fresh round of austerity cuts.

The General confederation of Workers of Greece (GSEE) and Civil Servants Supreme Administrative Council (ADEDY), have also recently held a two-day general strike in protest against the measures.

The EU and the IMF say adopting such measures is essential to securing the 130-billion-euro bailout package that will save Athens from a debt default in March.

Despite the austerity cuts and the bailout funds, reports point that Greece has been in a recession for five consecutive years. The debt-ridden country’s economy has also reportedly shrunk by seven percent in the fourth quarter of 2011.

Greece has been the scene of protests and demonstrations since the austerity cuts were first implemented in early 2011. Many of the rallies have turned violent, leaving scores of the protesters injured.


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