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Greece 'on track' to recovery

Eurozone leaders have made positive indications that Greece is on the right path to continue receiving bailout funds. The announcement came after a day of strikes and protests against austerity measures in Greece.

A man walks in front of trolleybuses parked at a depot during a 24-hour labour strike in Athens October 18, 2012. Greek workers walked off the job for the second time in three weeks on Thursday, hoping to show EU leaders meeting in Brussels that a new wave of wage and pension cuts will only worsen their plight after five years of recession. REUTERS/Costas Baltas (GREECE - Tags: POLITICS BUSINESS EMPLOYMENT CIVIL UNREST TRANSPORT)

Generalstreik in Griechenland

The official decision on whether or not Greece's latest round of austerity measures are enough to qualify it for the next round of international bailout funds won't come until next month, but the statement given early on Friday from eurozone officials is the latest good news for Athens.

"We welcome the determination of the Greek government to deliver on its commitments and we commend the remarkable efforts by the Greek people," leaders of the 17-member eurozone said in a statement. "Good progress has been made to bring the adjustment program back on track."

The statement also cautioned Greece to stay on course to "ensure its future in the euro area."

Earlier this week, the troika of international lenders, consisting of the European Union, the European Central Bank, and the International Monetary Fund, also gave positive signals regarding the latest austerity measures on the table in Athens.

Watch video 01:16

Greece shut down by strikes

While Greece was praised for staying on track to solve its debt crisis and avoid defaulting on its loans, strikes and protests throughout the country on Thursday showed how many Greeks are unhappy with the measures, which have contributed to a sluggish economy and 25 percent unemployment.

The general strike was the second in less than a month and the fourth this year. It closed down most business and public sector activity. Taxi drivers and some kiosk owners joined the stoppage, which also paralyzed airports, banks, schools, museums and passenger ferries.

The strike was called by the country's two largest labor unions, ADEDY and GSEE.

Riot police fired tear gas in Athens in an attempt to repel protesters hurling stones and petrol bombs. Some 40,000 protesters were gathered on the streets of the Greek capital as the 24-hour general strike got underway.

mz/av (dpa, AFP)

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