Greek government proposes four-year austerity plan
Greece’s conservative-led coalition has set out a new four-year package of austerity measures, facing down escalating protests by unions and dissent from its left-wing government partners.
The Bill, to be voted on in parliament tomorrow, will impose further wage and benefit cuts on Greeks who are heading into a sixth year of recession and are already struggling with 25% unemployment.
The drastic spending cuts and tax rises demanded by the country’s bailout creditors aim to save €13.5bn in 2013-14, but austerity will be extended through 2016.
Other measures include a two-year increase in the retirement age to 67, a new round of tax increases, and making it easier to sack and transfer civil servants.
