Subscribe Daily Current Affair

Greece okays fresh austerity measures

  • Greece's cabinet has approved fresh austerity measures demanded by the eurozone and IMF in return for a 130 billion Euro bailout. 
  • The draft bill must now be passed by the Greek parliament and approved by European finance ministers. 
  • Five ministers have resigned from the government over the issue, with one junior party in the coalition saying the demands were humiliating. 
  • Unions began a 48-hour strike on Friday with protesters clashing with police. Prime Minister Lucas Papademos has warned the country faces uncontrolled economic chaos if it fails to agree spending cuts and defaults on its debts. He told his cabinet that they cannot allow Greece to go bankrupt.


About Me

IBPS Blog

Blogger templates

© Copyright 2013 The Competition Master | All Rights Reserved | Disclaimer | Privacy Policy | Contact Us

Popular Posts

Designed By Seo Blogger Templates