Greek government announces further austerity

Just over a week after the European Union summit, at which the government leaders spoke of growth and an end to austerity, all European governments are preparing to implement massive cuts across the continent along Greek lines. In Greece itself, despite the deep recession, further cutbacks are being pushed through.
Last Friday, Andonis Samaras delivered his first substantial parliamentary speech as the new Greek prime minister. He not only assured the so-called troika—the European Commission, European Central Bank (ECB) and the International Monetary Fund (IMF)—that Greece would fulfill all previously agreed cuts, which include cutting 150,000 public sector jobs. He also announced further privatizations and structural measures.

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