Thursday, May 06, 2010

Greek Crisis: Tourists Told to 'Exercise Extreme Caution'

THE TELEGRAPH: Tourists visiting Greece have been warned to exercise "extreme caution" as the country's parliament prepares to vote on austerity cuts to tackle the financial crisis.



The Foreign Office advice came a day after three bank workers died in a petrol bomb attack as demonstrations against the hefty cuts turned violent.

President Karolos Papoulias warned that Greece was on the "brink of the abyss" hours before the parliament was due to vote on the austerity measures.

Bank workers went on strike on Thursday to protest the fatal attack that left three dead in the worst clashes Athens has seen since the country disclosed that it had covered up a black hole of £272 billion in debt.

Mr Papoulias's government has promised to carry out strict spending cuts - a condition of a 110 billion euro (£95 billion) bailout by the European Union and the International Monetary Fund, which is aimed at preventing the spread of the debt crisis throughout Europe.

The Greek parliament will vote on Thursday night on proposed wage freezes, pension cuts and tax rises. >>> | Thursday, May 06, 2010