Last night protesters chanted slogans in front of the Greek parliament during a union anti-austerity rally in Athens. Photograph: Petros Giannakouris/AP
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Riot Police In Action In Athens
Over in Athens, there are reports that police are making "preventative detentions" as they clear the streets ahead of Angela Merkel's arrival.
Several photos have been uploaded to Twitter, showing officers in action:
Updated at 10:13 BST
DRAGHI: UPHILL ROAD AHEAD
Photograph: FRANCOIS LENOIR/REUTERS Mario Draghi, head of the European Central Bank, warned policymakers in Brussels today that they cannot rely on the ECB to fix the crisis.
Testifying to the European Parliament's economic and monetary affairs committee, Draghi said it was vital that national governments made reforms to strengthen the euro.
Here are some highlights of his testimony, from Reuters:
ON THE EURO ZONE ECONOMY:
Some things have improved in the last to two or three months, but I think the road ahead is still long and it's uphill.
ON THE ECB's LIMITS:
We should remember that the ECB cannot undertake monetary financing and cannot replace what other member states should do in this...
It's too easy to think that the ECB can replace government action or lack of it, [by] printing money -- that's not going to happen.
ON THE ECONOMIC IMPACT OF FISCAL CONSOLIDATION:
It is without doubt that the process of fiscal consolidation in the short term will depress, and has depressed, the output in different parts of the euro area.
But what's the alternative? Let's not forget that the crisis started from increased risk aversion, which addressed several problems, one of which was the unsustainability of deficits and debt levels.
Updated at 10:00 BST
The Greek police have already made their first arrest, according to local reports.
A man was detained outside the German embassy in Athens this morning, after standing there holding a poster of Angela Merkel and the Aphrodite of Milos with his middle finger erect (perhaps pointing to the chancellor's incoming aeroplane).
Under the strict restrictions on protests imposed today (see 8.00), he was not allowed at the embassy without security clearance (with or without his poster). According to KeepTalkingGreece (which has a photo of the incident), he was taken away by officers.
Updated at 09:43 BST
Evangelos Antonaros MP Photograph: Bloomberg TV Greek MP Evangelos Antonaros (a member of the New Democracy (corrected) party) has warned that Angela Merkel will see the anger of the Greek people over their financial plight.
Speaking to Bloomberg TV this morning, he said:
There is very strong anti-German feeling in Greece … People are losing their wages, people are losing their pensions.
Antonaros also argued that Merkel deserved credit for visiting Athens at this time, and showing her support for prime minister Antonis Samaras:
This is very important from a symbolic point of view.
A former MP, Elena Panaritis, argued that Merkel's visit is driven by wider political considerations, such as her own election battle next year:
This visit is more important for her and her position in the European Union than for Greece.
Elena Panaritis. Panaritis agreed, though, that Merkel was showing bravery by visiting Greece at this time and signalling that she still wants the country to remain in the euro:
She's showing guts … it's a signal.
Updated at 09:50 BST
Athens-based journalist Damian Mac Con Uladh reports that the Greek government has even banned some TV crews from covering parts of Angela Merkel's visit:
Another sign of just how seriously the Greeks are taking the security issue.
Updated at 09:46 BST
Alexis Tsipras: Europe needs a new plan
Alexis Tsipras, the leader of the Greek opposition Syriza party, says Merkel's visit should be an opportunity to change Europe's obsession with austerity.
Writing in the Guardian, the leftist leader said Greece's programme of sharp cutbacks had created a "vicious spiral of recession" that could spell calamity for Greece and its lenders.
Tsipras called for "a new plan to deepen European integration":
Such a plan must challenge neoliberalism and lead European economies back to recovery.
It should prioritise the needs of workers, pensioners and the unemployed, not the interests of multinational companies and bankrupt bankers. Syriza-USF has committed itself to this road. We know it is a difficult one.
But it is the only plan that can restore the European vision of social justice, peace and solidarity.
More here.
Updated at 09:47 BST
Tight security
The scale of the security operation set up to protect Angela Merkel is quite startling.
An estimated 7,000 police will be on the streets, complete with water cannons, and there are also snipers on rooftops to minimise the danger of an attack on the chancellor. A helicopter will also provide aerial support.
This photo from Twitter yesterday shows the water cannons parked outside Antonis Samaras's offices.
As we reported yesterday, there is widespread anger in Greece that the police have banned public protests along Merkel's route. Those restrictions won't cover Syntagma Square, so the union protests should take place as planned.
This Google map shows where demonstrations are banned:
Updated at 09:49 BST
Protest rallies and strike called in Athens
Protests against Angela Merkel will begin in Athens even before her plane touches down at Eleftherios Venizelos airport.
The GSEE private sector union has called a rally for 1pm local time (1100 BST) in Syntagma Square, site of the Greek parliament. Here's the official statement (in Greek).
The communist PAME union has called its own rally to start nearby at Omonia at 1pm, and plans to march to Syntagma to merge with GSEE.
A third protest will take place at the headquarters of the POE-OTA union. They also plan to end up in Syntagma,
Unions have also urged workers to go on strike this afternoon to mark the chancellor's visit. The ADEDY public sector union and PAME have both called a three-hour walkout, from noon to 3pm local time.
Updated at 09:54 BST
The agenda
Angela Merkel's visit to Athens comes on a busy day for eurocrisis news.
Here's the chancellor's agenda:
• Merkel arrives in Athens: 1.30pm local time (1130 BST)
• Merkel and Antonis Samaras meet at his official residence: 2.15pm local time (1215 BST)
• Merkel/Samaras press conference: mid afternoon local time
• Merkel meets President Papoulias: 4.45pm local time (1445 BST)
And here's some other events:
• IMF/World Bank meeting in Tokyo: ongoing
• EU finance ministers meeting in Luxembourg: all day
• ECB president Mario Draghi testifying to the European parliament: from 0830 BST
• Greece auctions €1bn of short-term debt: morning
• Latest UK manufacturing/industrial production data: 0930 BST
Updated at 09:53 BST
Angela Merkel visits Greece
"Merkel out". The German chancellor was the target of anti-austerity protests outside the Greek parliament last night. Photograph: Aristidis Vafeiadakis/ZUMA Press/Corbis Angela Merkel is heading to Greece amid extremely high security for her first visit to Athens since the financial crisis began in 2007.
Thousands of police have been mobilised to protect the German chancellor, who will meet Antonis Samaras, Greece's prime minister, as well as the country's president.
Large protests are expected, despite the Greek police banning demonstrations in certain parts of the city. It's a flying visit too. Merkel should be in and out of Athens in just six hours.
But what message can Merkel bring to a country that has been in recession for the last five years, endured ever-deeper austerity, and whose future in the eurozone remains uncertain?
The visit comes as Greece continues to battle with its troika of lenders over the €13.5bn cuts package demanded in return for its next aid tranche, worth more than €31bn.
We'll be tracking all the events in Athens, and also bringing you our usual rolling coverage of the eurozone financial crisis, and other key events in the world economy.
Updated at 09:56 BST
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