Greece on the brink
Will another bailout be the right prescription for Greece and the Eurozone?
A 24-hour strike got under way in Greece on Wednesday as the government debated unpopular cutbacks.
Thousands of people blockaded the parliament, trying to send a message that they will not stand for more hardship; but the government says more cutbacks are inevitable if Greece is to secure international rescue loans.
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Greece is already the beneficiary of over $150bn of a EU and International Monetary Fund joint bailout. But a further $100bn may still be needed.
A five-year austerity plan must first be passed for the country to continue receiving the aid.
But could embattled prime minister George Papandreou garner enough support to have that plan approved? And would Greece lenders, the EU in particular, change the terms of the bailout plans?
Inside Story with presenter Teymoor Nabili, discusses with guests Vagelis Agapitos, an independent economist; Yanis Varoufakis, a professor of economics at the University of Athens; and Fotis Boblas, an activist and protester.
This episode of Inside Story aired from Wednesday, June 15, 2011.
Published On 16 Jun 2011