Greek unions protest against soaring cost of living

Thousands of Greeks on Saturday joined union protests in several cities against a steep rise in the cost of living as the government vowed to boost emergency support for households.

In Athens, thousands of demonstrators led by Communist-affiliated union PAME gathered outside parliament over spiking inflation and a new labour law increasing working hour flexibility.

“We are a river of anger and outrage,” said steel unionist Panagiotis Doukas.

“We claim our right to a respectable life… we say a thunderous no to the anti-popular policies that have torn apart our lives,” he said.

Greek inflation in January surged to 6.2 percent in an annual comparison amid fears Russia’s invasion of Ukraine will further push up energy and food prices.

The cost of living “could on average increase by two percent in 2022,” Panagiotis Petrakis, a professor of economics at the University of Athens, told AFP.

The government has already spent 44 billion euros ($50 billion) in supporting businesses and low-income households during the Covid-19 pandemic.

Late Friday, Finance Minister Christos Staikouras said Greece would conclude an early repayment of bailout loans from the International Monetary Fund and use the interest rate savings “to support households and businesses”.

Greece is aiming 4.5-percent economic growth this year and expects additional revenue from the vital tourism industry.

Tourism accounts for around a quarter of the Greek economy. Receipts in 2021 stood at over 10 billion euros.