Protesters showered police with stones and fire bombs on the steps of the parliament building, forcing them to retreat. The boom of tear gas canisters fired by police rang out over Syntagma Square while black smoke curled into the air.
“We have no future here. All young people want to go abroad and they are right to do so,” said Anastasia Kolokotsa, 17, protesting outside parliament.
“There are no jobs, there is nothing here.” (Photo: Aris Messinis/AFP/Getty Images)
Riot policemen stand near a burning parasol during protests against austerity measures in Athens, June 28, 2011. With Greece teetering on the brink of bankruptcy, parliament is due to vote this week on a package of spending cuts, tax increases and privatisations agreed as part of a massive bailout aimed at averting the euro zone’s first default. (Yannis Behrakis/Reuters)
Greek woes may eclipse Lehman: Ackermann Deutsche Bank’s CEO described the situation in Greece as critical and warned contagion to other eurozone members could lead to a crisis bigger than the one sparked by the collapse of Lehman Brothers.
Governments across the single currency bloc are pushing the banks, pension funds and insurance firms that hold Greek sovereign debt to play a role in a second rescue package for the heavily indebted eurozone nation.
Josef Ackermann cautioned against any steps that could spread the crisis to other vulnerable countries in the 12-year-old currency bloc.
“If it is Greece alone, that’s already big. But if other countries are drawn in through contagion, it could be bigger than Lehman,” the Deutsche Bank chief said at a Reuters banking event on Monday.
Photos of the Day, May 11, 2011 Riot policemen run through a cloud of teargas to avoid fire from an exploding Molotov cocktail during clashes with youths in central Athens May 11, 2011. Police fired teargas at dozens of youths hurling stones in central Athens on Wednesday as a 24-hour general strike against an EU/IMF prescribed austerity brought much of Greece to a halt during talks on the next slice of a bailout package. (REUTERS/Yannis Behrakis)
Photos of the day: A policeman is covered in flames as he tries to escape after a Molotov cocktail was thrown at him during riots in front of the parliament in Athens on February 23, 2011. Greece was hit with another general strike against austerity as Prime Minister George Papandreou seeks to convince the cash-strapped country’s eurozone partners to extend the repayment of a massive rescue loan. (Angelos Tzortzinis/AFP/Getty Images)