Greek MPs pass austerity plan amid violent protests

Page last updated at 15:47 GMT, Sunday, February 12, 2012 - 20:47 EST

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BBC:

Historic buildings in central Athens have been set ablaze

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Greece's parliament has passed a controversial package of austerity measures, demanded by the eurozone and IMF in return for a 130bn-euro ($170bn; £110bn) bailout to avoid default.

The vote came amid some of the worst violence in Greece since riots in 2008.

Protesters outside parliament threw stones and petrol bombs, and police fired tear gas. Several people were injured and buildings were set on fire.

PM Lucas Papademos urged calm, saying violence had no place in a democracy.

Lawmakers have also approved a related deal to write off 100bn euros of Greek debt held by private banks.

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Comments

A sad day for Greece

February 13, 2012 by John Gurlides (United Kingdom ), 13 weeks 6 days ago

"Coalition parties expelled more than 40 deputies for failing to back the bill."
Not only has every shred of national sovereignty and national respect been murdered today but also every shred of "democracy"!
"Metapolitefsi" has once again shown itself for what it really is: a decadent, elitist system of four-year alternating dictatorships where our elected officials cannot express their own conscience or the people's will without dire consequences to themselves.
What a disgrace!

What's the alternative?

February 13, 2012 by Chris (United Kingdom ), 13 weeks 5 days ago

Irlandos, yes it's sad that Greece is going through this, but what is the alternative? Let's say the politicians refused to pass the austerity bill, by tomorrow the country would run out of money. Hospitals would shut down, so would the police, etc. There'd be anarchy! The country would inevitably go bankrupt and the IMF would seize all of Greece's assets. The Drachma would be worthless and everything would be sold off to foreigners or multi-millionaires for dirt cheap (similar to what happened in Russia after the fall of the USSR). So it's easy to say "DON'T PASS THE AUSTERITY MEASURES!", but what is the alternative? Do you have any ideas how we could have got rid of the debt without going bankrupt and ruining the country?

It's better than you think

February 13, 2012 by John Gurlides (United Kingdom ), 13 weeks 5 days ago

Dear MM,
The country CANNOT repay what it owes. It is in fact bankrupt. The debt is renounced in its entirety or, hopefully, some deal is made (50% on principle, etc.)
Hospitals, policemen, civil servants all get paid in Greek government-issued notes - yes, our own currency. Immigration is ended. Imports are slashed, exports are encouraged through deals with China, Russia, Arab countries, Tasmania, whoever. If that means stepping out of the EU, so be it.
Our industry is built up once more and PROTECTED. Our agriculture is built up once more and PROTECTED.
Our country will NOT be ruined through bankruptcy. It will be rebuilt.
Better to be realistic about our situation and get on with the job of rebuilding rather than holding on to shreds of something that will not work.
Thanks.

Unrealistic

February 13, 2012 by Chris (United Kingdom ), 13 weeks 5 days ago

Sorry but I disagree, that is not how economics works. Greek issued notes will worthless and people's assets (land, homes, etc) will become DRAMATICALLY devalued. Oligarchs (probably foreign) will arise to buy up everything (because when you're bankcrupt the banks seize your assets and sell them on). Greece will no longer belong to Greeks, and that will not be temporary, it will be forever! The "deals" with China, Russia, etc, will benefit who exactly? We will not have a leg to stand on when it comes to negotiations, they'll chew us up and spit us out. As for rebuilding the country, rebuild it how? With the current laws and systems we have in place, where people can retire in their 40s? The anarchists in Greece (and their sympathizers, like KKE) riot at everything! I remember people rioting at the prospect of changing the law with regards to the police not being allowed to enter the university to make arrests! Where else in the civilized world did such a law exist? Yet in Greece people were rioting to protect it. The fact of the matter is changes need to be made, our economy is not sustainable and those changes will need to include austerity. Yes immigration MUST be slashed, yes our agriculture must be protected, but HUGE changes must also be made and going bust will bring nothing but eternal pain to Greece and it's people