Wednesday, May 5, 2010

(Video) At Least 3 Dead in Greek Austerity Protests

The video coming out of Greece this morning seems to have moved human traders to realize this is not all about numbers on a spreadsheet. At least 3 deaths so far in protests/riots to the austerity required to get the bailout monies.

It appears likely the S&P 500 will open below the 50 day moving average if current fair value holds... and this will be the 2nd day in a row of material gap down openings, and 3rd in 6 sessions... after only 2 previous I can find for all of 2010.

Via BBC:
  • At least three people have been killed in the Greek capital as protesters set fire to a bank during a general strike over planned austerity measures. The fire brigade said three bodies were found inside the bank in Athens. Two other buildings are also on fire.
  • Petrol bombs were thrown at police who responded with pepper spray, tear gas and stun grenades. Protesters are angered by spending cuts and tax rises planned in return for a 110bn euro (£95bn) bail-out for Greece. Measures include wage freezes, pension cuts and tax rises.
  • Outside parliament, a group of protesters rushed up a flight of steps, taunting MPs to come out and calling them "thieves". Riot police forced them back, but right next to parliament, others groups set buildings on fire - including a tax office.
  • The Greek protesters' ire is aimed against symbols of capitalism, says the BBC's Malcolm Brabant in Athens.
  • Flights in and out of Greece stopped at midnight, and trains and ferries were not running. Schools, hospitals, and many offices are shut.

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