Nightly News   |  February 12, 2012

Greeks protest austerity moves

Thousands gathered outside Parliament Sunday to protest cuts demanded by international lenders. CNBC's Julia Chatterley reports.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> there is developing news overseas tonight. the greek parliament passed a tough new austerity package late this evening, aimed at averting bankruptcy, but not before a huge and violent demonstration in athens. cnbc's julia chatterly is outside the parliament building for us tonight. what is the scene there?

>> reporter: lester, tonight's vote was an essential step for this country to secure another huge bailout and prevent a default. it comes as over 100,000 people gathered to protest in the square outside parliament. it was a display of fury and contempt, both at their politicians, but also at what many greeks here fear are the too difficult demands for austerity. the protests began quite peacefully but then violence erupted, almost immediately. some protesters began throwing stones and gasoline bombs at police who responded immediately with tear gas . more than 15 buildings have been set on fire and dozens of people were injured. for many greeks, these new measures will mean a substantial loss of income, reduction in pensions, but also job losses at a time when unemployment in this country has surpassed 20%. the question going forward, though, is will these new reforms be sufficient to save this country from eventual default and will the people here be willing to accept the additional austerity cuts to come? lester?

>> julia chatterly in athens for us tonight, thank you.