Sunday, February 12, 2012

Chronolgoy of Greece's debt crisis May 2, 2010 - Feb 2012

Timeline: Greece's debt crisis

(Reuters) - Here is a look back at Greece's financial crisis since a deal with the EU and IMF was sealed in 2010.
May 2, 2010 - Prime Minister George Papandreou says he has sealed a deal with the EU and IMF, opening the door for a bailout in return for extra budget cuts of 30 billion euros ($43 billion) over three years. The package represents the first rescue of a euro zone member.
May 4/5 - Public sector workers stage 48-hour nationwide strike. Three people are killed when a bank is set on fire.
May 6 - Greek parliament approves austerity bill.

February 9 - After repeated delays and all-night talks with leaders of the three Greek coalition parties and EU and IMF inspectors, political leaders clinch a deal on austerity measures needed to secure the bailout.
-- Unemployment in Greece rises to 20.9 percent, a new record, after austerity measures already in place.
-- Greece's two major labor unions GSEE and ADEDY say they will hold a 48-hour strike for February 10/11 against the reforms that the party chiefs agreed on.
-- Euro zone finance ministers demand more steps by Greece and a parliamentary seal of approval before providing aid under the new bailout.
Comment: The birthplace of democracy has become its deadbed.

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