Greece cuts company executive rewards

Article reported that Greece’s coalition government stripped the bosses of the lossmaking state electricity producer of a monthly €3,500 allowance paid on top of their salaries in July 2012, in a move signalling their intention to slash wasteful spending in the public sector.

EKathimerini reported on the 16 July 2012 that Greek Finance Minister Yannis Stournaras was due to continue talks with cabinet colleagues on the 17 July 2012 after they had failed to agree on the details of the cuts that need to be made for 2013 and 2014 to satisfy Greece’s lenders.

Kathimerini, 16.7.12: Stournaras grinding out new cuts as talks with ministers conti http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_20008_16/07/2012_452367

Spiegel Online International, 13.7.12: Germany Rejects Greek Plea for More Time http://www.spiegel.de/international/europe/germany-opposed-to-greek-plea-for-more-time-to-reach-austerity-targets-a-844307.html

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