Greek finance ministry blockaded / Strong demand for 10-year Greek bond

Article reports that angry civil servants shouting 'Hands off our bonuses' blockaded on the 4 March 2010 the main finance ministry building in central Athens as Greek trade unions launched a wave of protests against a new €4.8bn austerity package announced the previous day.

Members of the leftwing Pame union hung a giant banner across the ministry building while George Papaconstantinou, the finance minister, was defending the measures in a parliamentary debate.

The measures – adopted following pressure from the European Commission and the European Central Bank – aim to ensure the country can achieve its target of cutting the budget deficit this year by 4 percentage points to 8.7% of gross domestic product.

Greece returned to international financial markets on the 4 March 2010 for the first time in two months to raise €3bn-€5bn through a 10-year syndicated bond issue.

ESO: Background information: Greece prepared to turn to IMF http://www.europeansources.info/record/greece-prepared-to-turn-to-imf/

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