It promises to be one of the largest strikes since the resurgence of the catastrophic violence two years ago, and will touch virtually every industry of the deeply troubled state. At least half of the four million-strong workforce is expected to partake as parliamentarians vote on a package of austerity measures demanded by international lenders.

The strike looks to climax on Thursday as trade unions seek to pressurise the state into rethinking tax hikes, job cuts, pay and pension cuts, among other seemingly devastating financial austerity measures.

Ironically, or not, Athens’ public transport services are expected to be operating services to ship demonstrators to the main site of the protest in Syntagma Square, outside parliament.

While a Greek default would prove tragic in many ways, many economists now believe that this is simply unavoidable.

It’s estimated that Greek public debt is equivalent to 162 per cent of the GDP, and the recession shows absolutely no signs of easing. Greece would literally run out of money within weeks if it didn’t have international support.

Prime Minister, George Papandreou remains defiant in the face of danger, and his Finance Minister, Evangelos Venizelos, said this is the week “during which many things, maybe everything will be decided.”

Seemingly siding with the socialist regime, the ministers for health, education and transport said in a joint statement published last week:

We are fully aware of the huge changes in people’s lives and the problems the economic crisis poses to public services, but either we do everything now or we face disaster.

Obstructing the operations of the state in sensitive sectors is an attempt to worsen conditions and undermine the fight the country and its citizens are engaged in.

The main strike days are Wednesday and Thursday, but fuel refinery customs clearance agents will strike today and decide whether to continue their strike further into the week or not.

Even judges will be striking, ruling only on important issues.

Kanellos, the Greek riot dog is also expected to be protesting as usual…

The historic vote to implement the measures will take place in two stages on Wednesday and Thursday.

In good news, EU and IMF agents said last week that they will more than likely push through the €8 billion aid tranche that will help get Greece through November.

[Source: Reuters via EWN]