Greek taxis protest liberalization

[News_Editor]

Greek taxis protest liberalization

2011-07-07 00:38:16 GMT+7 (ICT)

ATHENS (BNO NEWS) -- Taxi drivers on Wednesday formed an endless motorcade in the Greek capital as part of a 24-hour strike to protest the recent liberalization of their sector, the Kathimerini newspaper reported.

The taxi drivers formed the convoy heading to the Transport Ministry in the northern Athenian suburb of Holargos, following an announcement by Transport Minister Yiannis Ragousis on Monday that the sector would be opened up to competition. They were joined by colleagues from other parts of the country, bringing many streets in the area to a standstill.

Unionists representing taxi drivers around the country claim that relaxing limitations for entering the profession will result in an overabundance of drivers, putting a strain on a business already suffering from the economic crisis. They also say that the existing 300,000 taxis that are in circulation in the country are more than adequate to meet the public's needs.

The recent liberalization is part of the country's ongoing austerity reforms. Last week, the Greek Parliament passed by majority the Medium-Term Fiscal Strategic Program, part of the conditions set by the European Union for a financing loan.

The new set of austerity measures approved by the Parliament included tax hikes, wide-ranging reforms and accelerated privatizations. The approval of the program was fundamental for securing a new EU bailout agreement.

Greece is expecting a new 12 billion Euro ($17 billion) bailout from the EU and the International Monetary Fund (IMF) to consolidate its troubled finances and avoid bankruptcy as the first one failed to stabilize its financial system.

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