Athens: Between a rock and a hard place

After much debate, the Greek parliament has passed the latest round of austerity measures demanded by the EU and the International Monetary Fund (IMF) before disbursement of another bailout package. The discussions took place against a backdrop of what was described as the worst rioting for months in the capital, Athens. Tens of thousand have been involved in increasingly violent protests in the capital and cities across the country. Following approval by the eurozone and the IMF, another EUR 130 million bailout should be available. The deal reached last week by leaders of Greece's main political parties did not go far enough, and at a meeting on Thursday ( February 9 ) eurozone finance ministers indicated that agreement to deeper cuts would be necessary before a new bailout could be approved. PM Lucas Papademos has appealed for calm, but with the planned 15,000 public sector job cuts and 20 percent reduction in minimum wage meeting with an outpouring of anger on the streets, the public seem in no mood to accept Parliament's decision quietly. The government is now effectively caught between the EU and the IMF on one side and the Greek people on the other, reconciling the demands of both appearing, for the moment, impossible. Liam Lever, Liam@romania-insider.com