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News Summary: Violence at Greek austerity rallies

The Associated Press
Thursday, 18 Oct 2012 | 2:20 PM ET

DESCENT INTO VIOLENCE: Hundreds of youths pelted riot police with fire bombs, bottles and chunks of marble at a Greek anti-austerity demonstration, less than a month after more intense clashes broke out during a similar protest.

LARGE TURNOUT: Around 70,000 protesters took to the streets in Athens in demonstrations timed to coincide with a European Union summit in Brussels, at which Greece's economic fate will likely feature large.

THE GOAL: The country's government is negotiating a new austerity package with debt inspectors from the EU, International Monetary Fund and European Central Bank. The idea is to save (EURO)11 billion ($14.4 billion) in spending and raise an extra (EURO)2.5 billion through taxes.