Give and take and take

Published on 13 February 2012 at 15:05

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.

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