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Cut jobs, get cash - formula for Greece to stay afloat


Cut jobs, get cash - formula for Greece to stay afloat


Greece’s international lenders say the country has made “significant progress” with its economic reforms, but no deal has been reached on the latest 2.8 billion euro tranche of bailout cash.

The IMF, European Commission and the European Central Bank say they will return to Athens in April to overcome the “technical issues” that need to be resolved.

Greek Finance Minister Yannis Stournaras believes that will not take long: “The package of measures will be wrapped up in a few days. They will return towards the end of the month.”

The sticking point appears to be the Greek government’s pledge to axe 25.000 civil service jobs by 2014.

Lias Iliopoulos from the ADEDY trade union insists that the cure is worse than the disease: “The troika has admitted that the policies it imposed on us and implemented were a mistake. The result is huge unemployment, a huge recession, huge economic problems and poverty, without any prospect for change or growth.”

There is still a great deal of anger on the streets of Athens and questions remain about whether the government can continue to implement a harsh reform programme in the face of such civil fury.

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