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Greece set for final vote on cuts after riots

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June 30, 2011, 11:38 a.m. | World — by Associated Press

Riot policemen chase a protester during clashes at Athens' main Syntagma square,in central Athens, Wednesday, June 29, 2011. Greek deputies passed on Wednesday a deeply unpopular austerity bill that has provoked days of rioting in the streets of Athens, with the result of the vote determining whether the country can avoid a potentially disastrous default in the coming weeks.
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ATHENS, Greece (AP) — Greek lawmakers are set to pass a bill Thursday to fast-track fresh austerity measures demanded by creditors, following two days of rioting in Athens that left some 200 people injured. Greece's international creditors have insisted that Greece back an austerity package and the associated implementation bill in return for giving more money to the country. On Wednesday, parliament approved the five-year €28 billion ($40 billion) package of spending cuts and tax increases, leaving details of the cuts to be approved Thursday.

Once, and if, Thursday's bill to implement the austerity measures is cleared, the eurozone and the International Monetary Fund will be in a position to release the €12 billion ($17 billion) that is due from last year's package of rescue loans for Greece.

Without the financial assistance, Greece was facing bankruptcy as soon as the middle of July. A Greek default on its debts could trigger a major banking crisis and potential turmoil in global markets, similar to what happened when the Lehman Brothers investment house collapsed in 2008 in the United States.

As a result, markets around the world breathed a sigh of relief after Wednesday's vote.

The €12 billion will tide Greece over till mid-September, according to government officials, but it looks like it will need a lot more money in the years to come. Creditors are considering giving Greece a second, major support package to cover upcoming financing gaps.

Last year's €110 billion ($159 billion) package was predicated on Greece being able to tap bond market investors for cash next year but with the country's interest rates at exorbitant levels, that looks highly unlikely.

The austerity measures being imposed in Greece in return for outside help are being met with resistance.

On Wednesday, riots erupted for a second day outside the parliament in Athens, with police clashing and firing tear gas at protesters after a failed attempt to blockade the building.

Government officials said they were unhappy with policing of the riots which lasted nearly 10 hours Wednesday, but police spokesman Thanassis Kokkalakis said they had succeeded in protecting parliament and preventing serious injuries and property damage.

No major protests were planned Thursday, and power company workers called off a strike which had caused days of rolling blackouts.

A civil servants' union said it would stage a central Athens rally later Thursday.
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Anonymous June 30, 2011, 1:26 p.m.    

The letters NWO is known to us as the New World Order, but I think it is more accurate to call it the New Whites Order.

Even though the NWO are using a Puppet to set up a Military Dictatorship, it is a New Whites Order led by Anglo-France.

The English are the most Intelligent, Cunning, and Manipulative Race there is, they knew that the French were needed as their Partner on Continental Europe as a counter against Germany.

France is located in the right place between Germany, Spain, Italy, and North Africa, and Gibraltar is what the English stole.

It is my opinion that the English let and helped the French win a few Colonies in Africa, and shared Canada, because France was Strategically located in Continent Europe for building the English Empire.

We heard Emperor Obama ask what is the fuss that he is a Premeditated Cold Blooded Mass Murder, or that he plans to set up a Military Dictatorship in America is nothing to make a fuss over; because, Emperor Obama falsely claims that he does not believe that this is either Illegal or Undemocratic.

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