European stocks slide as Greek strikes rage on in Athens
Greece’s strike action has caused European stock benchmarks to retreat.
Greece’s strike action has caused European stock benchmarks to retreat.
The major European stock indices have lost ground today (February 20th), as general strike action and protests over austerity measures in Athens rage on.
Crowds marched towards parliament in the capital city, with thousands of Greeks beating drums and blowing whistles as part of the 24-hour industrial action.
The strike is being called by Greece's two biggest trade unions, representing around half of the troubled Mediterranean nation's workforce of four million.
Schools, hospitals and travel services were closed or left manned by emergency staff as workers downed tools to make their displeasure known with the current administration's hefty cuts, wage freezes and redundancies.
The strikes come just days before international lenders are due in Athens to discuss the country's next bailout, for which the government needs to demonstrate it is making savings and is taking control of its finances.
At 16:35 GMT, the pan-European DJ Eurostoxx Index fell by 0.9 per cent to 2637.8 points.
Find out about the key European benchmarks and spread betting strategies at City Index.