EU to Discuss Strengthening the Euro; Greeks Strike

Posted October 18th, 2012 at 4:40 am (UTC-5)
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Members of the European Union are meeting in Brussels Thursday to discuss how to strengthen the ailing euro currency.

Germany is expected to press for the EU to play a stronger role in the economies of its member states, but it faces opposition by some member states reluctant to relinquish control over their finances.

The two-day meeting is seen as an incremental one, with no major decisions expected.

Meanwhile, Greeks are staging a general strike Thursday, walking off the job in the transport industry, hospitals, offices, and shops.

They are protesting austerity measures demanded by the European Central Bank, European Commission, and International Monetary Fund, in exchange for bailout funds.

This is the second general strike in Greece in less than a month. Security in Athens is high, as recent anti-austerity demonstrations have turned violent.

The Greek economy is near bankruptcy. It is expected receive a new infusion of loans next month from the European Union.