Thursday, August 4, 2011

Key political risks to watch in Greece

Reuters
August 4, 2011

Greece's Socialist government faces tough months ahead as it struggles to implement unpopular austerity reforms, keep disgruntled lawmakers on board and convince an angry public that the belt-tightening is necessary.

It received welcome breathing space when the European Union agreed to a new bailout in July, but a dwindling majority in parliament and an escalating crisis in the euro zone further complicate the situation, with the possibility of autumn snap elections.

Thousands of anti-austerity protesters who rallied for weeks outside parliament chanting "Thieves, Thieves!" have now left the square as summer temperatures soar but have warned they will be back in September, while a weeks-long taxi strike serves as a reminder of widespread discontent.

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