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Greeks stage mock hangings in protest at austerity measures as European Central Bank riles Germans with euro debt plan: With the Support of Greek Security Forces

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  • Nearly 2,000  members of the Greek security forces attended rally in protest at austerity  measures and proposed pay cuts
  • Took place on  same day as ECB launched new plan to save the euro by buying the debt of  troubled eurozone countries
  • Bold plan  triggered a row with Germany which views it as central bank funding of  ‘profligate’ governments

By Hugo Duncan

PUBLISHED:18:51 EST, 6  September 2012| UPDATED:01:54 EST, 7 September 2012

Members of the Greek security forces staged a  symbolic hanging in front of the nation’s parliament in Athens in protest at  austerity measures in place in the debt-stricken country.

Uniformed members of the police force, fire  brigade and coast guard staged the emotive demonstration during a rally  yesterday to protest against cuts to security forces’ pay and  benefits.

On the same day the European Central Bank  launched a bold plan to save the crumbling euro from collapse, but this led to a  damaging rift with Germany.

Protest: Uniformed members of the Greek security forces staged a mock hanging outside the country's parliament in AthensProtest: Uniformed members of the Greek security forces  staged a mock hanging outside the country’s parliament in Athens

ECB president Mario Draghi said the bank will buy the debt of troubled eurozone countries such as Spain to bring down their borrowing costs and prevent a break-up of the single currency.

'Row': ECB president Mario Draghi has said the bank will buy the debt of troubled eurozone countries‘Row’: ECB president Mario Draghi has said the bank will  buy the debt of troubled eurozone countries

Stock markets soared across Europe, with the  FTSE 100 up 119.48 points to 5777.34.

But the launch of so-called ‘outright  monetary transactions’ triggered a row with Germany which is opposed to what it  sees as central bank funding of profligate governments.

Jens Weidmann, head of the Bundesbank and a  member of the ECB, has threatened to quit over Mr Draghi’s plan.

Mr Draghi said the ECB will focus on buying  bonds –  government IOUs – due for repayment within three years.

But he insisted there would be strings  attached for any government that wants to tap the scheme, with the conditions  overseen by Europe and the International Monetary Fund.

Christine Lagarde, managing director of the  IMF, welcomed the ECB plan and said the organisation stood ‘ready to  co-operate’.

Spanish prime minister  Mariano Rajoy  showed no sign of rushing to seek a bailout that would come with tough  conditions for his recession-gripped country.

‘When there is news I will tell you,’ he said  following a meeting in Madrid with German Chancellor Angela Merkel.

Rally: Almost 2,000 police officers, firefighters and coast guards attended the rally in AthensRally: Almost 2,000 police officers, firefighters and  coast guards attended the rally in Athens

Read more: http://www.dailymail.co.uk/news/article-2199575/Greeks-stage-mock-hangings-protest-austerity-measures-European-Central-Bank-riles-Germans-euro-debt-plan.html#ixzz25oLevIyE

About Post Author

Ralph Turchiano

I have a strong affinity for the sciences which led me to create my sites. My compulsion for the past decade has been reviewing literally every peer-reviewed research article. Which can easily be validated by following my posts. To me, science is where the real news is, as it will mold our destiny beyond that of politics or economics. 😉 Please feel free to e-mail: 161803p314159@gmail.com
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