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Greek Protests Get Violent After New Austerity Cuts

Protests and marches sweep across Greece in advance of austerity cuts.

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Cutbacks have caused mounting anger in other struggling economies in the eurozone's southern flank.

Over 100,000 people protested in Portugal earlier this month, and on Tuesday more than 60 were injured in Madrid in clashes near parliament.

International Monetary Fund chief Christine Lagarde had warned on Tuesday that delays in implementing Greece's bailout programme, including privatisations, had expanded the country's financing shortfall.

"As a result of the major delay in privatisation... and the limited revenue collection, there's a financing gap, especially if factoring in more time," Lagarde told an audience at the Peterson Institute for International Economics.

"We don't only need 11.5 billion euros of cuts; we need a series of cuts and additional revenues in order to fill in the fiscal gap," she said.

 
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