Greek workers protest austerity measures as EU fails to agree on fresh bailout

Greece today witnessed a wave of protests by angry workers against fresh austerity measures proposed by the government after euro zone finance ministers failed to agree on a second bailout package for the country.

Thousands of protesters gathered near the parliament chanting "Thieves, traitors! Where did the money go" as they pushed for an end to tax imposts and sell-off of state property amidst a fresh wave of austerity measures.

EU wants the Greek government to follow a five-year deficit reduction and privatisation programme to avoid default on the 110 billion euros ($158.1 billion) rescue package and to be eligible for continued aid from the European Union and International Monetary Fund.

The new austerity measures were announced after the budget deficit widened 13 per cent year-on-year in the first five months of the current year.

The government led by socialist prime minister George Papandreou also missed its interim budget deficit-reduction target under the bailout plan, according to the finance ministry.

This has prompted the government to agree to harsher austerity measures in a bid to qualify for its second rescue package in just over an year.