Peter Cheer, founder of the TF Market Advisors, said that the government's economic plan does not work.
The Greek government expects the economy to drop by 5% this year, compared with earlier predictions of 3.8%.
Saloniki in northern Greece saw over 20,000 people protesting against harsh economic measures. There were clashes with police and over 100 people were detained on Saturday.
The prime minister made a speech about the economic situation. He said that the country needs to reduce pensions and wages, while increasing taxes and raising the retirement age.
Such measures were necessary to receive a loan of €109 billion from the EU and the International Monetary Fund.
