Standort: fm4.ORF.at / Meldung: "Austerity, anger and the authoritatian response "

Kate Farmer

Radio FM4

Kate Farmer

Cutting to the chase

29. 6. 2011 - 13:52

Austerity, anger and the authoritatian response

Anger on the streets of Athens as the Greek parliament votes, also Google's challenge to Facebook, a suicide attack on a major hotel in Kabul, and how ocean life is migrating.

GREEK FINANCIAL CRISIS - Key dates in the coming weeks:

  • WEDNESDAY, JUNE 29

Votes on a €28 billion, five-year austerity package of tax increases and spending cuts agreed with the European Union and the International Monetary Fund.

  • THURSDAY, JUNE 30

Vote on a separate implementation law. This could be more difficult as it includes specific privatisations, tax increases and spending cuts.

  • SUNDAY, JULY 3

Deadline set by the EU for the Greek parliament to pass the austerity laws in order to obtain the next, €12 billion, tranche of the €110 billion agreed in May 2010. Greece says it will be unable to pay its debts by mid-July without these funds.

  • EARLY JULY

Euro zone finance ministers to announce "the main parameters" of a new international bailout plan, in addition to the €110 billion. The new package will include additional loans and a voluntary rollover of Greek debts by private investors.

Upcoming payouts due as treasury bills and bonds mature:

  • FRI, JUL 15: €2.4 billion
  • FRI, JUL 22: €2 billion
  • FRI, AUG 12: €0.48 billion
  • FRI, AUG 19: €2.0 billion
  • SAT, AUG 20: €5.9 billion

Total due on bills and bonds by Aug 20th: €12.78 billion

Anger in Athens

Popular protests against the austerity measures turned violent, and riot police turned to tear gas to break up crowds of demonstrators in central Athens. But as our correspondent, Helena Smith, explains, it's not the first time, and the people behind the violence are a small number of anarchists who do not have the support of the people.

Dieses Element ist nicht mehr verfügbar

Meanwhile, the EU's top economic official, Olli Rehn, insists there is no "plan B" to stave off what some analysts are saying is an inevitable default by Greece, whether it happens in the near or more distant future. However, according to Sebastien Dullien, professor of International Economics at the University of Applied Sciences in Berlin, there is certainly some planning going on behind the scenes.

Dieses Element ist nicht mehr verfügbar

Deadly militant attack on Kabul Intercontinental Hotel

In a dramatic, 5 hour attack on Kabul's Intercontinental Hotel ended when NATO helicopters intervened and killed 3 of the militants. The group believed to be responsible is linked to the Taliban though operates independently, but our international security analyst, Paul Rogers, says the attack is highly significant and sends a clear message as the US tries to reposition it's role in Afghanistan.

Dieses Element ist nicht mehr verfügbar

Google Plus challenges Facebook

Google is launching it's social networking site, Google Plus, which it hopes will challenge the market domination of Facebook. Technology expert, Eirch Möchl considers whether this is a realistis possibility.

Dieses Element ist nicht mehr verfügbar

Migration in the oceans

The opening of the Northwest Passage caused by global warming means that marine life from the Pacific Ocean is migrating to the Atlantic, with possible devastating consequences. Riem Higazi looks at what happened, and what the effect are likely to be.

Dieses Element ist nicht mehr verfügbar