Saying More Austerity “Inevitable,” Samaras Cuts Deep
(AP Photo/Kostas Tsironis)
Greek Prime Minister Antonis Samaras arrives at the Parliament for a cabinet meeting, in Athens, Aug. 31, 2012.
ATHENS – Greek Prime Minister Antonis Samaras, who said before the critical June 17 elections that he would hold the line on more austerity measures, has put forth a budget with another $14.17 billion in cuts, mostly aimed at workers, pensioners and the poor. The New Democracy Conservative leader has reportedly convinced the reluctant partners in his uneasy coalition, the PASOK Socialists of Evangelos Venizelos, and the tiny Democratic Left of Fotis Kouvelis, to also renege on their pledges not to make more cuts to Greece’s most vulnerable sectors, as well as the layoff and eventual firing of as many as 35,000 workers. The Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB,) that is putting up rescue loans to save the country’s economy from failing, insisted on the cuts as well as more reforms.
Or... enter your email and start reading this article now:
September 01, 2012
2 readers comments
wrote on
September 03, 2012
11:50 AM
wrote on
September 03, 2012
4:53 PM