Athens prepares commemoration unfortunate event – Contraction Spain eased

Athens prepares commemoration unfortunate event – Contraction Spain eased

12-05-2009 08:21

This Sunday, the capital and largest city of Greece will commemorate the first anniversary of the death of a student that was followed by violent revolts in main Greece cities.
Spain’s central bank reported Friday that the nation’s economy contracted less in the last quarter of 2009, indicating a gradual recovery of the Spanish economy.

Weeks of violent revolts

The 2008 Greek riots started on 6 December 2008, when Alexandros Grigoropoulos, a 15-year-old student, was killed in police shooting. This incident was followed by weeks of violent revolts across major cities in Greece that caused millions worth of damages to public properties and stores.

Commemoration

Karolos Papoulias, the current president of Greece, insists on commemorating the anniversary of the tragic incident peacefully. This message by the Greece president was reported by the Athens News Agency. In the meantime, small-scale student demonstrations have already occurred.
More than 6.000 police officers, gathered by the new Socialist government, will be present to prevent violent revolts, Greece news sources revealed.

Spain’s contraction

Spain’s central bank, Banco de España, announced in its month-by-month report: “The decline of the Spanish economy has eased further, which is proved by the most recent economic gauges.” The rate of contraction in the construction and private consumption sector has slowed down, according to the central bank.
The Spanish gross domestic product declined 0.3% consecutively July through September. Nevertheless, Spain’s economy still has not found its path out of recession, while other key euro area nations already have posted economic growth.