Yesterday the agreement and the euphoria of the markets. Today social discontent. Greek citizens have not taken so well the news of the agreement between the government and the major political parties on austerity measures (22% reduction in the minimum wage, cut in supplementary pensions and 150 layoffs in the public sector).
The reforms are necessary to obtain the rescue package from the Troika (EU, ECB and IMF) of 130 billion euros. Unions declared one 48-hour general strike and various demonstrations called in several cities of the country. Both public and private sector workers have joined and those who most jeopardize the regular performance of social functions are those of public transport, ferries, schools, public offices and museums.
The demonstrations will continue until Sunday, when Parliament will vote on the new austerity measures. Sunday's vote is one of three new conditions set yesterday by the Eurogroup to unblock the 130 billion euro bailout package. To get the go-ahead for the second financial aid program of the Eurozone, Athens will also have to structurally cut its public deficit by another 325 million euros by 2012 and provide written assurances from the leaders of the parties supporting the coalition that the program itself will be respected and implemented even after the April elections, regardless of who takes office.
