Greece Approves New Austerity Measures
ATHENS, February 11 (RIA Novosti)
The Greek cabinet has approved a pack of new austerity measures requested by the Eurozone and the International Monetary Fund to secure a 130-billion euro ($170bln) bailout to avoid default, the Greek national television reported on Saturday.
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The agreement should now be passed by Greece’s parliament and receive approval of European finance ministers.
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The country’s Prime Minister Lucas Papademos has warned against failing to agree spending cuts, saying Greece was facing “uncontrolled economic chaos.”
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“We cannot allow Greece to go bankrupt,” he told the cabinet as quoted by the BBC. “A disorderly default would plunge our country in a disastrous adventure.”
Papademos also said parties and ministers that do not back the agreement will not be present in the coalition government.
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