. Spanish bond auctions and French "goes well"
worker . Construction of 53 years died in Athens
nervousness of the market before the weekend . EU Summit
. The agenda for today . Greece to adopt new austerity measures
. Blogging Now: Graeme Wearden
I am grateful to the readerKizbot
to make a very good Photo Gallery of events today, Naftemporiki the newspaper's website.
The images show scenes of riot police faced off against demonstrators, some wearing gas masks and clubs of transport. Also shown are some of the tens of thousands of protesters who do not participate in violence. Definitely worth a look.
4:42 p.m.The man who died, was appointed in Athens
DimitrisAs our previous blog post was clear that the precise details of his death, even clear
, a construction worker and union leader of the Communist Party.
Witnesses say the man, a trade unionist, collapsed after being tear gassed by police in Syntagma Square.
other hand, the BBC reports that the union was attacked by a group of demonstrators, but we do not know if there is a relationship.
16:25: Evangelismos hospital doctors are now confirming that the construction worker of 53 years attending a protest in Parliament today of 300 seats is dead.
in Athens details:
It is unclear whether he died of head injuries or heart attack, but what is known is that he was beaten by a rock. Some 40 others were taken to hospital with injuries as some of them badly burned at his feet.
Fate has cast a shadow over the vote and added to the explosive atmosphere in Athens.
4:08 p.m.the death of one protester, 53, has cast a shadow over Athens.
ParliamentKourakis Anastasio Vice President announced the death during a debate on the new bill before a final vote Thursday.
was feared injured, after the death of three workers on the bench for another general strike in May 2010.
Greek media are reporting that the man died in Athens after being injured during protests today
Skai said a construction worker, 53, died of a heart attack after being beaten by a stone.More we receive it.
This image, taken from a television show on the Internet Greek clouds of tear gas and smoke covering the Athens
showing lines of police guarding the Greek parliament in Athens, with groups of protesters stood quietly Greek TV
In other parts of the city, however, still seem to have running battles between rival protesters. Some of the garbage heap garbage were burned in Athens. As reported by the Associated Press:
troublemakersviolent attacks on peaceful protesters with petrol bombs and stones, on Thursday as tens of thousands of people gathered in Athens to protest the unpopular austerity measures demanded by creditors to stay afloat Greece.
Applicationsangered ordinary Greeks. Supporters of the Communist Party to participate in the rally on Thursday established a cordon in Parliament to prevent hard-line fighting to begin with the police.
StavrosFleg, a doctor, said the Greek Skai TV station about 30 people were treated for injuries and problems the breath of the morning.
Estimates of the number of people on the streets varies. Associated Press says "over 50,000", while the sky had not counted at least 10,000 people before the Greek Parliament - many trying to prevent the members enter the room to vote in the austerity of last night
The word is that after the violent clashes between rival groups of demonstrators (the anarchists and syndicalists Communist Party) The streets are calmer. Athens
was again not a great use of tear gas and stun grenades, with the boom of explosions resounded in the city, according to reports from the scene.
Theodora (who we interviewed yesterday) says the ambulance came to collect some of the injured.
all. First look in the financial markets. Wall Street opened for trading -. Despite the bad news coming out of Europe today, the Dow was up 27 points to 11 531 Latest
darker image, in London, however. The FTSE 100 is down nearly 1%, losing 50 points to 5399.
With rumors that the summit at the weekend may be delayed, quickly followed by denials by officials in Brussels, the city is not sure what to do with the current crisis.
I, Julia Kollewe, I sign and leave you in the hands of my colleague Graeme Wearden for the opening of Wall Street . Thank you very much for all your comments today and goodbye.
The German government does not exclude the possibility of postponing the EU summit scheduled for Sunday, according to the German conservative daily Die Welt . Citing sources from the center-right coalition of both Angela Merkel and her government, said the impasse of the Franco-German negotiations in the euro area use the bailout funds were the reason for the delay. The summit was postponed from October 17. The euro fell against the dollar in the report.
14:00:. More information on the report of the troika of David Gow in Brussels
Greece, we all knew, the next will be ? 8 billion signed by the finance ministers of the euro area tomorrow, bringing the total to date of ? 73bn bailout. But the 106-page report of the Troika, prepared by the European Commission with the ECB (it is said, ignoring the IMF), painted a pretty gruesome in the Greek economy, which he says will be reduced by 15% between 2009 and 2012. Surprise, surprise, therefore, "the dynamics of public debt remains extremely worrying," despite the decision of July 21 this year, including private sector involvement (PSI), have declined substantially Greek government financing needs "a decade," he said.
So, what happened in the past six months? After a short early in the first quarter, economic activity for the first six months fell by 6%. Demand account "contract for fiscal consolidation, the deterioration of the labor market, uncertainty regarding the prospects and financial policies, social unrest and trade union action, and a slowdown in Europe and the world." As the economic recovery will be delayed and, after a contraction of 5.5% this year, we'll see another 2.75% in 2012. Modest growth will resume in 2013. For you, George.
The report details the maximum depends on the ISP ... "However, the debt ratio will remain at high levels for many years and fir trees are vulnerable to adverse shocks. In comparison with the prospects for a few months ago, the debt sustainability has deteriorated since the delay in recovery, fiscal consolidation and the privatization plan, and the prospect of bank recapitalization. "
The Austrian Minister of Financewaded into the debate on the amount of new capital from European banks need. Maria Fekter said the figure was not as high as expected. "It's ? 100 billion needed for the recapitalization"
1:22 p.m.: The Government Ireland said he clings to his promise not to raise taxes or reduce the rate welfare next year after talks with the troika of lenders (IMF, EU and the ECB). "There is nothing in the discussion that would lead us to move from commitments we made," said Finance Minister Michael Noonan. He said the troika concluded that the country is on track and "The Ireland has made substantial progress in all key areas. "
just back from the barricade, where fierce hand-to-body broke out between anarchists and the so-called unionists black robes of the Communist Party. The scores are believed to have been injured in the clashes that erupted in front of the luxurious Grande Bretagne. For hours, a strange calm appeared to be tens of thousands of people demonstrated outside the parliament of unions representing sanitation workers many drivers to transport workers, taxi and sailors - some of the areas that they are " collected and punished "by the austerity measures imposed under the EU ? 110 000 Greece / IMF rescue.
Syntagma Square protesters flock are forced to choose your way through the debris of the destroyed bus stop, shop windows, broken marble and incineration of waste that lines the streets after clashes erupted yesterday afternoon. Almost a man say protesters to violence is the work of undercover cops who start throwing firebombs and stones at the police authorities to have an excuse to retaliate with tear gas to disperse the crowd. But in recent clashes underscore the extreme stress caused by the economic crisis in a country that feels like it was on the verge of a nervous breakdown.
1:11 p.m. As expected, Germany reduced its growth forecast for next year to 1% of 1, 8% in response to the uncertainty in the markets in financial markets. Economy Minister Philipp Rösler said despite the slowdown, the country is heading into recession. He noted that unemployment is at its lowest level and the order books are full.
more of my colleague David Gow in Brussels:
The draft summit declaration in the euro area (to be published after talks Sunday) flows and it is confirmed that a lot of agreement must still be achieved in the three central themes: participation in the sector private Greek debt (up haircut), recapitalization of banks and, especially, "increasing the efficiency of the EFSF." The first and last of them will be the hot topic at the meeting of the Eurogroup tomorrow from 1400CET while the middle (the banks) is on the agenda of the Ecofin meeting on Saturday morning (the participation of George Osborne and the other nine "outs").
These sections are very good in black or in the stands, including the agreement to give the Greeks of his sixth save $ 8 billion ? slice and the prospect of a new EU- Athens program with the IMF to be held in late November. Note also the reaffirmation of "our unequivocal commitment" that the ISP "is and remains an exceptional soliti unique in Greece as the only condition requires a single solution." And speaking of the euro area countries reaffirmed their "inflexible" in response to fiscal conditions, etc.
and the declaration indicates that the euro area countries to discuss plans for national budgets that are based on growth projections produced independently of the government (OBR model) and, if through constantly increasing governments will be forced to use the forecasts of the European Commission. And yes, the Commission and members of the euro area have the power to impose changes in the budgets, if countries are far from the line in terms of its deficit.
This, of course, is the idea that it could be ? 440 billion ? 2 billion, if the fund could borrow from the ECB or to simply provide the first 20% loss or some other way to go. Reuters says Wolfgang Schäuble, said there is no agreement yet.
Troika said in Greece that the project country is the economic downturn is much worse than expected, reports Reuters.
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