Greeks strike, protest more spending cuts
ATHENS, Greece — Austerity-weary Greeks lashed out against more tax hikes and pension cuts with a new round of strikes Thursday, with public transport workers, taxi drivers, teachers and air traffic controllers walking off the job. The strikes come a day after the government announced yet another round of spending cuts, including plans to suspend 30,000 civil servants as it scrambles to keep international bailout payments flowing and soothe global market fears that Greece will default. Without continued payments from a $150 billion program of rescue loans from eurozone countries and the International Monetary Fund, Greece will run out of cash by mid October.
Spanish Parliament revives wealth tax
MADRID — Spain's Parliament has reintroduced a wealth tax aimed at deficit-reduction in its last session before dissolving to make way for a general election that opposition conservatives are favored to win. Most opposition parties criticized restoration of the tax as an electoral maneuver by the ruling Socialists, who argued it is only fair to hit the richer harder during crisis. The government says the tax will affect 160,000 people whose net worth is more than $954,000.
Prime ministers warn eurozone nations
British Prime Minister David Cameron joined Canada's prime minister in issuing dark warnings about the global economy, saying eurozone countries must act swiftly to resolve the crisis and make Europe's banks stronger. Cameron told the Canadian Parliament Thursday that the world is not quite staring down the barrel, but the pattern is clear: Growth in Europe and the United States has stalled.