Greece’s communists warn of ‘disorderly default’
Greece’s Communist Party (KKE) has warned against a fresh wave of cuts on wages and pensions following the latest eurozone deal on Greece.
European leaders have effectively made Greece’s bankruptcy official, Communist Party leader Aleka Papariga said on Thursday, adding that the situation could develop into disorderly default. She did not elaborate.
Eurozone leaders struck a deal with private banks and insurers on Thursday for them to accept a 50 percent loss on their Greek government bonds under a plan to lower Greece’s debt burden and try to contain the two-year eurozone crisis.
Papariga described the outcome of the summit as a compromise between European Union governments and banks which, she said, ?will not resolve the crisis or [achieve] growth.?
Rather, the communist leader said, the decisions will see more austerity measures on the backs of all people in euro area nations.
