News Summary: Violence at Greek austerity rallies

AP News
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Posted: Oct 18, 2012 2:20 PM
News Summary: Violence at Greek austerity rallies

DESCENT INTO VIOLENCE: Hundreds of youths pelted riot police with fire bombs, bottles and chunks of marble at a Greek anti-austerity demonstration, less than a month after more intense clashes broke out during a similar protest.

LARGE TURNOUT: Around 70,000 protesters took to the streets in Athens in demonstrations timed to coincide with a European Union summit in Brussels, at which Greece's economic fate will likely feature large.

THE GOAL: The country's government is negotiating a new austerity package with debt inspectors from the EU, International Monetary Fund and European Central Bank. The idea is to save €11 billion ($14.4 billion) in spending and raise an extra €2.5 billion through taxes.