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Greece has imposed tough austerity measures to turn round its economy and pay off huge debts. But voters gave the fragile coalition government a shock by supporting radical left wing party Syriza in the polls. A government reshuffle with a new Finance Minister following the election is unlikely to change economic policy.
Five months of tough negotiations have delivered a bailout package for the Greek economy which means it can survive – for now. Now the coalition government has to introduce higher taxes and more cuts to pay for the lifeline. But questions remain whether the government will survive to deliver on the new targets it has set.
Greece’s coalition government is fighting to produce spending cuts acceptable to Europe’s Troika. But its austerity package is leading to social unrest and political confrontation with the judiciary, the police and the armed forces and support for the extreme right wing Golden Dawn.
SOCIAL unrest and political confrontati...
A wholesale restructure of the Greek economy aimed at saving 11.6 billion euros is underway. But Prime Minister Antonis Samaras is looking for European governments to support his bid to have more time to introduce reforms and savings. His demands for savings include fewer civil servants, reduced pensions and privatising state-owned companies. But these are putting...