BLOOMBERG.COM Greece’s government approved 6.6 billion euros 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. The economy is forecast to shrink 5.5 percent this year, more than the 3.8 percent forecast by the EU and IMF in June.
The austerity measures were detailed after the cabinet meeting last Saturday night, which also approved the 2012 budget and the plan to dismiss state workers. The government by December will identify 30,000 public workers who will be put on reduced pay and either retire early or eventually be fired. The plan aims to save 300 million from the government wage bill in 2012.
The austerity measures were detailed after the cabinet meeting last Saturday night, which also approved the 2012 budget and the plan to dismiss state workers. The government by December will identify 30,000 public workers who will be put on reduced pay and either retire early or eventually be fired. The plan aims to save 300 million from the government wage bill in 2012.
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