|
Union leaders say the cuts target low-income Greeks. "There are other things the (government) can do, before taking money from a pensioner who earns euro500 ($660) a month," Spyros Papaspyros, leader of the public servants' union ADEDY, told private Mega television. Late Monday, protesting school teachers forced their way into Greece's state television building, disrupting programming. With debts of euro300 billion and a budget deficit of 13.6 percent of gross domestic product, Greece has been struggling to pull its finances in order and was less than three weeks away from default when the eurozone finance ministers agreed on Sunday to activate the three-year euro110 billion eurozone and IMF rescue. Athens needs to see the first installment of funds before May 19, when it has euro8.5 billion worth of 10-year bonds maturing.
On Tuesday morning, France's lower house of parliament adopted a budget amendment allowing the government to release French funds for Greece's bailout. The text must still go before the Senate, its final step in parliament. France has committed to providing up to euro16.8 billion in its share of the three-year plan. Finance Minister Christine Lagarde had urged lawmakers to adopt the amendment, calling it a "moral imperative" and saying that providing funds for Greece would be a way of "stabilizing the euro."
[Associated
Press;
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor