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[125] [126] It included provisions about Greek economic policy during the following four years. The bill's title was Medium-term Fiscal Strategy plan 2015-2018 and the relevant law is 4263/2014. The bill froze wages and pensions until 2018. [127]
According to an IMF official, austerity measures have helped Greece bring down its primary deficit before interest payments, from €24.7bn (10.6% of GDP) in 2009 to just €5.2bn (2.4% of GDP) in 2011, [67] [68] but as a side-effect they also contributed to a worsening of the Greek recession, which began in October 2008 and only became worse ...
100,000 people protest against the austerity measures in front of parliament building in Athens (29 May 2011). The First Economic Adjustment Programme for Greece, initially called the Economic Adjustment Programme for Greece and usually referred to as the first bailout package or the first memorandum, is a memorandum of understanding on financial assistance to the Hellenic Republic in order to ...
The anti-austerity movement in Greece involved a series of demonstrations and general strikes that took place across the country. The events, which began on 5 May 2010, were provoked by plans to cut public spending and raise taxes as austerity measures in exchange for a €110 billion bail-out, aimed at solving the Greek government-debt crisis.
Greece faced a sovereign debt crisis in the aftermath of the 2007–2008 financial crisis.Widely known in the country as The Crisis (Greek: Η Κρίση, romanized: I Krísi), it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a humanitarian crisis.
The planned purchase of Greek bonds from private creditors by the euro rescue fund at their face value will burden the private sector with at least another €12.6bn. [5] It was also announced at the EU summit, a reconstruction plan for Greece in order to promote economic growth. [3] The European Commission established a "Task Force for Greece ...
The global Occupy movement.; The May–July 2011 Greek protests, also known as the "Indignant Citizens Movement" or the "Greek indignados", started demonstrating throughout Greece on 25 May 2011; [6] the movement's largest demonstration was on 5 June, with 300,000 people gathering in front of the Greek Parliament, [7] while the organizers put the number to 500,000. [8]
The Thessaloniki Programme is a manifesto adopted by the Greek Coalition of the Radical Left (SYRIZA), first presented by party leader Alexis Tsipras at the Thessaloniki International Fair on 13 September 2014, [1] proposing a set of policies oriented towards reversing austerity measures while maintaining a balanced budget.