Greek austerity protests enter 9th day

Protesters across Greece continue to rally for a ninth consecutive day against the government’s austerity measures aimed at reducing the country’s budget deficit.

In the capital, Athens, protesters have set up camp in the city’s main public square in a move reminiscent of the recent protests in Spain.

The Greek government is vying to win yet another large bailout by reducing its 2011 budget deficit by 6.5 billion euros through the harsh austerity measures.

Inspectors from the European Union, the International Monetary Fund and the European Central Bank have been in Athens for nearly a month to see if the country is successfully implementing the promised reforms in return for the bailout.

Greek government officials have been holding talks with the inspectors who are studying whether or not the country is eligible to receive a fifth package of loans from the EU and the IMF to reform its economy.

Last year, Greece agreed to drastically reform its debt-ridden economy in return for a Euro 110 billion rescue bailout package from the European Union and the International Monetary Fund.