Select a language
On 12 February, the Greek Parliament adopted the new austerity plan prepared by Finance Minister Evangelos Venizelos at the request of the EC/ECB/IMF troika to unlock a new loan of €130 billion for Athens. The plan includes a 22% reduction to the minimum wage (reduced to €586 gross per month over the next 14 months), and the suppression of 15,000 public sector jobs in 2012. Further cuts to pensions and civil service salaries are also foreseen, as well as budget cuts for the army and social security. Four state companies are to be privatised.
Do you like our work?
Help multilingual European journalism to thrive, without ads or paywalls. Your one-off or regular support will keep our newsroom independent. Thank you!
Read more on this topic
