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| Europe | |
| EU approves payment of loan installment to Greece | |
| 2011-07-03 | |
(KUNA) -- Finance Ministers of the 17-member Eurogroup Saturday night approved the disbursement of the fifth tranche of 12 billion euro to Greece from the 110 billion euro loan given by the EU and the International Monetary Fund last year.
They welcomed the recent adoption by the Greek parliament of a new package of austerity measures which was a condition set by the EU and the IMF to release the next instalment. "The Greek authorities provided a strong commitment to adhere to the agreed fiscal adjustment path and to the growth-enhancing structural reform agenda, which are essential components of our strategy to restore fiscal sustainability and safeguard financial stability," noted the statement. It called on all political parties in Greece to support the programme's main objectives and key policy measures in order to ensure a rigorous and swift implementation. The austerity measures including pay and pension cuts, tax increqse and privatisation of state companies are highly unpopular in Greece and have led to widespread demonstrations and strikes in the country. | |
| Posted by:Fred |
| #2 Kleptocracy- "rule by thieves". New word for the day and Greek. Government con job on the public just as O is doing here. |
| Posted by: Dale 2011-07-03 12:14 |
| #1 Sad times for the people of Greece. Home of Mt. Olympus. Zeus must have taken human form to indulge in a dalliance or two. A deal has been struck and time to celebrate; |
| Posted by: Dale 2011-07-03 11:42 |