Greece faces power outages due to austerity strike

ATHENS, Greece — Greece faces potential power outages as employees at the main power utility strike to protest the company’s privatization, part of austerity plans essential for the country to avoid a default.

The utility’s powerful union said Monday that the outages could occur particularly at peak consumption times during the midday heat as people turn on air conditioning units.
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The sell-off of state assets in the power company, known by its acronym DEH, is a major part of a euro50 billion ($71 billion) privatization plan that must be completed by 2015.

The 48-hour rolling strikes comes as Greece’s new finance minister, Evangelos Venizelos, was meeting his eurozone colleagues for the second day in Luxembourg.
http://www.forbes.com/feeds/ap/2011/06/20/general-eu-greece-financial-crisis_8524483.html

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