Angry scenes in Athens are fuelling anxiety in the world’s financial markets amid fear of even worse unrest to come.
On Tuesday it was Greek transport workers who walked out to protest against spending cuts and tax hikes the government hopes will stop the country going bankrupt.
And unions representing around half of the country’s workforce are threatening a national strike next week.
Market fears that public anger will stop Athens following through with its debt repayment plan saw Greece’s debt rating downgraded to “junk.”
Finance Minister George Papaconstantinou told national television the downgrade was not a true reflection of the state of the economy and the talks that are going on to get Greece out of its debt crisis.
Greece’s “junk” debt rating has made borrowing even harder for a country that needs desperately to borrow. With Portugal’s debt also downgraded yesterday, there’s real concern it may be dragged down with Greece. Similar worries exist over Spain and with the crisis threatening to undermine the euro currency, borrowing could become harder for all eurozone governments.
- 1Snowden, Assange and Manning statues unveiled in Berlin | euronews, world news
- 2Chomsky says US is world’s biggest terrorist | euronews, the global conversation
- 3euronews live TV - News | euronews : the latest international news as video on demand
- 4Nepal: ‘equally big earthquakes coming in eastern regions,’ expert tells euronews | euronews, world news
- 5It’s a girl: Britain’s Duchess of Cambridge gives birth in London | euronews, world news
- 6How Nepal earthquake devastated Kathmandu’s UNESCO heritage | euronews, world news
- 7Chernobyl Children: what makes Ukrainians born in 1986 different? | euronews, world news
- 8Juncker to Hungarian PM Orban: “Hello, Dictator!”
- 9Evidence of ancient wine found in Georgia a vintage quaffed some 6,000 years BC
- 10Exclusive: unrest in FYR Macedonia could hit other Balkan countries warns Serbian PM | euronews, world news
- 11International breaking news | euronews online world breaking news in video
- 12International tv news | euronews: European and International tv news bulletin
- 13Andrea Ferrari: the graphene guru | euronews, science
- 14Portuguese language reform law goes global | euronews, world news
- 15EU membership remains Serbia’s priority, says PM Aleksandar Vucic | euronews, the global conversation
- 16Watch: France’s Jean-Marie Le Pen clashes with UKIP MEP Woolfe | euronews, world news
- 17Spain: the viral soldiers fighting in Madrid and Barcelona mayoral races | euronews, world news
- 18eurovibes - a selection of Europe’s best music talent
- 19How young translators are helping knit European culture together | euronews, generation y
- 20We will not be moved! China’s urban spread resistance [PHOTOS]
Wires > News
- 23:05 CET Unpopular but defiant, Myanmar ruling party unfazed about poll…
- 20:48 CET Greece says wants to make debt payments but needs aid urgently
- 20:34 CET Obama heralds first U.S. Memorial Day without ground war in 14…
- 17:28 CET Militants kill five, target telecoms in Indian Kashmir attacks
- 17:25 CET Houthis suffer first serious setback in south Yemen fighting -…
- 16:57 CET Burkina Faso exhumes remains of former president Sankara in murder…
- 16:54 CET Congo soldiers clash with Rwandan rebels in transit camp
- 16:19 CET Germany protests Russia’s ejection of conservative MP from Moscow