ATHENS: Police fired teargas at dozens of youths hurling stones in central Athens Wednesday and a strike against austerity brought much of Greece to a halt during talks on the next slice of a bailout package. Senior EU and IMF inspectors met Finance Minister George Papaconstantinou at the start of a visit to Athens to press Greece to shore up its finances one year into the EU/IMF deal. Police clashed with the youths in black hoods just metres from where the meetings were taking place to determine whether Greece will get a fifth aid tranche from the 110 billion euro bailout that saved it from bankruptcy last year. Without the next 12 billion euro tranche, key to paying 13.7 billion euros of immediate funding needs, Greece would effectively default. The IMF and EU officials will also consider giving Athens improved loan terms or more aid to avoid restructuring its huge debt. Investors say a restructuring, imposing losses on private bondholders, is inevitable without more funds. Euro zone officials including German Chancellor Angela Merkel say they will wait for the result of the inspection visit before taking any decisions. Police said about 20,000 protesters marched to parliament to mark a nationwide 24-hour strike against wage cuts and tax hikes which unions say are strangling the economy, a smaller number than previous protests. Athens was nearly deserted with many shops and public services closed and posters reading: “We can't take it any more. The rich and the tax evaders should pay.” Litsa Papadaki, 60, housewife and mother of three protesting in central Athens said: “Enough is enough! They are killing us and our children.” Greek debt prices have stabilized, but markets are braced for some form of restructuring in the long run as Greece labors with a 327 billion euro debt mountain.
