By March 20, when Greece has a big bond redemption to make, the IMF has demanded that the Greek government slash its public investment budget by $530 million “through cuts in subsidies to private investments and nationally financed investment projects.” The new austerity measures also impose a 22 percent reduction in the minimum wage, which will remain frozen for the next three years and require that collective bargaining be completely cut. The result? Fifteen thousand public sector workers will be laid off and 150,000 jobs will be destroyed due to the non-renewal of the contract.
In short, the IMF is demands that Greeks who are struggling the hardest do the most to prove that the country is worthy of another round of bailout money.
The Greek 99% are taking to the streets to protest these unfair policies, and members of the global Occupy Wall Street movement held a day of action to show their solidarity.
Feb.18th, people of cities across the world took to the streets in solidarity with the Greek protesters who have occupied their workplaces and public spaces to resist economic injustice. Demonstrations are planned throughout Germany, Austria, Belgium, Denmark, Spain, Finland, France, Iceland, Ireland, Italy, the Netherlands, Portgual, the United Kingdom, the United States, Sweden, and more.