Greece told to further cut state spending

Crisis-stricken Greece must implement additional measures aimed at cutting spending in order to receive more money from the International Monetary Fund (IMF).

Izvor: B92

Monday, 19.09.2011.

15:04

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Crisis-stricken Greece must implement additional measures aimed at cutting spending in order to receive more money from the International Monetary Fund (IMF). A conference in Athens heard on Monday from IMF's representative in Greece Bob Taa that "additional measures will be needed in order to reduce the budget deficit", RIA Novosti reported. Greece told to further cut state spending In order to receive the latest USD 8bn tranche of the loan and avoid bankruptcy, the country is pressed to undertake more austerity measures, "including job cuts", reports the BBC. Local media are saying that the EU and the European Central Bank demanded the sacking of 100,000 employees in state-controlled companies - 20,000 more than previously planned. Greek Finance Minister Evangelos Venizelos was quoted as saying that European and international institutions were using Greece as a scapegoat and easy excuse to hide their own lack of competence to manage the crisis". He also stated that the EU and the IMF "failed to give a definitive and complete answer to the attacks against the euro", and that his country was blackmailed and humiliated. According to reports, Venizelos will hold a teleconference today with EU and IMF officials and announce new austerity measures afterwards. Evangelos Venizelos (Beta/AP)

Greece told to further cut state spending

In order to receive the latest USD 8bn tranche of the loan and avoid bankruptcy, the country is pressed to undertake more austerity measures, "including job cuts", reports the BBC.

Local media are saying that the EU and the European Central Bank demanded the sacking of 100,000 employees in state-controlled companies - 20,000 more than previously planned.

Greek Finance Minister Evangelos Venizelos was quoted as saying that European and international institutions were using Greece as a scapegoat and easy excuse to hide their own lack of competence to manage the crisis".

He also stated that the EU and the IMF "failed to give a definitive and complete answer to the attacks against the euro", and that his country was blackmailed and humiliated.

According to reports, Venizelos will hold a teleconference today with EU and IMF officials and announce new austerity measures afterwards.

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