Greece moves closer to securing latest bailout payment

BBC – Greece has moved a step closer to receiving its next tranche of bailout funds after agreeing to the latest austerity measures demanded by the troika of international creditors. Athens has agreed to cut 15,000 civil service jobs by the end of 2014. The move follows the latest talks between Greece and the troika – the European Commission, European Central Bank and International Monetary Fund. Greece is awaiting the release of 8.8bn euros (£7.5bn; $11.5bn). Greek debt is currently 160% of the country’s gross domestic product (GDP) and the IMF says it must be cut to 120% of GDP to be sustainable. Read Article

Source Article from http://openyoureyesnews.com/2013/04/16/greece-moves-closer-to-securing-latest-bailout-payment/

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