| Author (Person) | Hope, Kerin |
|---|---|
| Series Title | Financial Times |
| Series Details | 3.10.11 |
| Publication Date | 03/10/2011 |
| Content Type | News |
|
Greece’s cabinet approved large cuts in its 2012 budget on the 2 October 2011 – including the immediate dismissal of thousands of public sector workers – under intensifying pressure from its international creditors. The cabinet met after Evangelos Venizelos, Greek Finance Minister, wrapped up negotiations with experts from the European Union, International Monetary Fund and European Central Bank – a group known as the troika – in the early hours of Sunday 2 October 2011. It also became clear that Greece would miss its budget deficit reduction targets for 2011 and 2012 previoulsy agreed with the EU and IMF due to the deepening recession. EU and IMF negotiators were in Athens to decide whether Greece should receive another tranche of an agreed bailout. The 2012 draft budget for Greece was formally unveilled on the 3 October 2011. The burden of additional tax contributions further darkened the popular mood, revitalising a grassroots opposition movement known as 'I won’t pay'. |
|
| Related Links |
|
| Countries / Regions | Greece |
