Greek government approves more spending cuts, tax hikes
03/03/2010
ATHENS, Greece -- The government approved a third round of austerity measures Wednesday (March 3rd) to help pull the country out of deep financial crisis. After a cabinet meeting, Deputy Citizen Protection Minister Spyros Vougias said spending will be cut by an extra 2.4 billion euros, and that same amount will be raised in revenue. The pinch will hit everyone from public servants who will see their salaries reduced by 30% to consumers who will pay higher VAT and fuel taxes. On Tuesday, Prime Minister George Papandreou urged the public to make sacrifices to keep the country from going bankrupt. Greece's largest public sector trade union, ADEDY, announced Tuesday it will stage a 24-hour strike next week to protest the measures. Taxi drivers and pensioners are holding their own rallies in Athens on Wednesday. (BBC, Bloomberg, Ta Nea, Nafhtemporiki, Ethnos, Express - 03/03/10; Reuters - 02/03/10)
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