Strikes in Greece Turn Deadly

The Acropolis in AthensAs if Greece's troubles needed to get worse, The New York Times is reporting that three people have been killed in demonstrations against tough new austerity measures. The nation halted flights and shut shops as strikes escalated throughout the country in a challenge to Prime Minister George Papandreou’s plans to cut wages and pensions and raise taxes in return for a €110 billion ($143 billion) rescue package. The strikes have reportedly shut hospitals, schools and tourism sights across Athens, including the Acropolis

Perhaps somewhat ironically, analysts told the Times that the strikes could signal the beginning of protracted social unrest—which could paralyze the economy and help push the country into deeper recession.

According to BusinessWeek, the euro plunged to its weakest level against the dollar in over a year on Wednesday amid growing concern Greece’s fiscal woes will spread to other indebted nations.

The 16-nation currency traded below $1.29 for the first time since March 2009 as Moody’s Investors Service placed Portugal’s Aa2 government bond ratings on review for possible downgrade.


FREE Virtual Event

Pivoting Back to Travel: Phase 4

Are you prepared to guide your clients through the “new normal” of travel? Join us December 15, 2020 from 1pm-2:20pm EST for Pivoting Back to Travel: Phase 4. The upcoming installment of our FREE virtual series will feature presentations from the Cayman Islands, Dominican Republic, and Seabourn on their most up-to-date travel procedures, health & safety protocols they’ve implemented to keep guests safe, activities that are open to visitors, what your clients need to know while on their trip and more! Visit www.pivotingbacktotravel to view the full agenda and register for your FREE pass.
Read more on:

Suggested Articles:

Thailand announced a new tourist visa for U.S. travelers to apply in advance to visit safely for up to 60 days. Here's what you need to know.

Sea Cloud Cruises plans to restart cruises in March with Sea Cloud II in the Canary Islands, and shortly thereafter with Sea Cloud in the Greek Isles.

Insight Vacations has launched its new 2021-22 Americas collection, including Latin America for the first time. Learn more here.