A victory was achieved by the anti-memorandum, anti-government movement on October 28. It was commemoration day of the resistance to the German occupation of Greece, which started in 1940.
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A 50% cut of part of Greece’s debt was decided on by a summit of European leaders on October 26. The deal will entail long-term austerity measures being enforced on the Greek people.
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The lead-up to the payment of the sixth installment of International Monetary Fund (IMF) loans to Greece, to be handed out in October, finds Greek people in a state of shock and helplessness. The first “memorandum” agreement was signed by the Panhellenic Socialist Movement (PASOK) government with the IMF and European Union (EU) representatives in May 2010. It came after two decades of savage neoliberal attacks by successive New Democracy (the major right-wing party) and PASOK (so-called “socialist”) governments.