Greece’s two main unions have called a fresh general strike for July 8 to protest against tough austerity measures, introduced by the Government to trim the country’s budget deficit.
Should the strike go ahead, it will be the country’s 6th since February.
However, some of the protests have been violent. Last week’s strike saw seven police [...]
Greece continues to rebel against tough austerity measures as the country embarked on its fifth general strike.
Ferries, public transport and other state services came to a standstill to protest against Government plans to cut pension benefits and public servants’ pay.
More than 15,000 people took to the streets in Athens and the northern city of Thessaloniki. [...]
The French Government has announced the country’s retirement age will be lifted from 60 to 62 by 2018, as part of a sweeping overhaul to its pension system.
The new measures are to be implemented to cut France’s pension costs and reduce public borrowing.
However, the shake-up has met with public anger after tens of thousands [...]
Moody’s credit rating agency has cut Greece’s credit rating to “junk” status from A3 to Ba1 but said the outlook is stable.
Meanwhile, the agency also downgraded the country’s short-term issuer rating to not-prime from Prime-1.
According to Moody’s, there was still “considerable uncertainty” surrounding the impact of tough austerity measures implemented to slash the country’s budget [...]
Strikes were launched across Greece again today as workers protest against new austerity measures, which include deeper cuts in pensions and public servants’ pay, as well as a fresh hike in consumer taxes.
The new austerity measures are being submitted in a draft bill to the Greek Parliament today, and will be voted on by the [...]
Chairman of the Royal Bank of Scotland (RBS), Sir Philip Hampton, has admitted that bankers’ pay is too high.
However, while conceding that bankers’ pay is “astonishingly high”, he said it is difficult to defend the gap between what most people earned and what some bank staff were paid.
Speaking to BBC Radio 4, Sir Philip [...]