Greece bailout: Cabinet meets to discuss faster cuts

[dipsydoodle]

Source: BBC News

The Greek cabinet will meet later to discuss accelerating austerity measures aimed at securing further bailout funds to help ease the country's debt crisis.

An announcement on the measures agreed will be made this afternoon, a government spokesperson said.

Late on Tuesday, the European Commission said "good progress" had been made on talks to release funds.

The commission said officials would return to Greece next week to review the progress in cutting debt.

Read more: http://www.bbc.co.uk/news/business-14999363

[cliss]

1. I just read in the European press

that Greece will have to make draconian belt-tightening in order to get the dough. I'm willing to bet the Greeks will not go along with the changes.

No need for a crystal ball guaranteed demonstrations & riots.

:smoke:

[hack89]

2. I am also willing to bet that the Greeks will continue to evade taxes. nt

[dipsydoodle]

4. Part of the problem

is the cumulative effect of all the taxes they've not paid. They can't keep that stunt up forever.

[dipsydoodle]

3. Greece accelerates austerity cuts in return for aid

The Greek government is to impose tougher austerity measures in a move to persuade international lenders to give it more bailout funds.

A cabinet meeting on Wednesday agreed to further cuts in pensions, to extend a property tax, and to put tens of thousands of public workers on notice.

It follows two days of tough talks with the International Monetary Fund (IMF) and European authorities.

Some state pensions will be cut by up to 20%, a government official said.

http://www.bbc.co.uk/news/business-15011770