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    Demonstrators gather to protest against the European Central Bank's handling of Greece's debt repayments in Trafalgar Square in London, Britain June 29, 2015

    Londoners Take to Streets in Solidarity With Debt-Burdened Greece

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    Financial crisis in Greece (197)
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    Hundreds of London residents attended Monday a rally in support of the Greek government, refusing to accept its creditors’ ultimatum demanding to continue the austerity policy in the country.

    LONDON (Sputnik) — The meeting took place in Trafalgar Square in the center of the British capital. Among those present were representatives of trade unions, the various leftist organizations and parties, as well as British Greeks.

    "Greek crisis… is a disaster deliberately designed behind closed doors in Brussels," the member of the UK parliament from the Green Party Caroline Lucas said at the meeting.

    Besides, the rally was attended by the prominent Labour party's leadership contender Jeremy Corbyn.

    The activists held signs calling to "Drop Greece's Debt,” and give up the policy of social spending cuts.

    The latter call is particularly relevant for the United Kingdom where as many as 250,000 people, according to the police estimates, marched in London on June 20, calling for the halting and reversal of spending cuts imposed by the previous coalition government and further measures proposed by the Conservative party since its victory in the May 7 general election.

    Athens is attempting to unlock financial aid from its main international creditors to avoid a default on its multibillion-dollar debt. In return for the financial aid, the creditors — the International Monetary Fund (IMF), the European Union and the European Central Bank (ECB) — stipulated that Greece should fulfill certain demands, including austerity measures and cuts in social benefits and continuous monitoring of the Greek economy by the lenders.

    On Saturday, Greek Prime Minister Alexis Tsipras announced that a snap referendum on whether to accept a bailout proposal by Greece’s creditors in exchange for unpopular austerity measures would take place on July 5.

    Tsipras backs a 'No' vote in next Sunday's referendum and argues that a rejection of international creditors' proposal by the public would better arm Athens in future possible talks to unlock the next bailout package.

    Topic:
    Financial crisis in Greece (197)

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    European Union, economic crisis, International Monetary Fund, Alexis Tsipras, United Kingdom, Greece
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