Greece Approves $8.8 Billion in Austerity
Greece’s government approved 6.6 billion euros ($8.8 billion) of austerity measures including firing state workers, to show it can trim its budget deficit enough to secure a pending aid payment and a second rescue package....
Papandreou’s Cabinet approved the austerity measures on the eve of a meeting of European finance ministers who gather in Luxembourg today to weigh the threat of a Greek default, grapple with how to shield banks from the fallout and consider a further boost to the region’s rescue that will provide Greece’s second bailout....
The full article is at http://www.bloomberg.com/news/2011-10-02/greece-approves-8-8-billion-in-austerity.html
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