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February 29th, 2012 
FAKE NEWS for the Zionist agenda The new package of spending cuts, worth EUR 3.2 billion (USD 4.3 billion), was approved late on Tuesday by lawmakers from socialist and conservative parties, an official vote count in the parliament showed.
Greece has negotiated the biggest debt restructuring in history as it seeks to reduce national debt to 120 percent of gross domestic product by 2020 from 160 percent last year, and to meet the terms of an EUR-130-billion (USD 170 billion) international bailout.
On Monday, the US ratings agency, Standard Poor’s, downgraded Greece’s sovereign credit rating to ‘selective default’ in response to the country’s decision to involve the private sector in its comprehensive debt restructuring.
The crisis-hit country has the highest debt burden in proportion to the size of its economy in the 17-nation eurozone.
Despite austerity measures and bailout funds, the country has been in recession since 2009.
MAB/HN
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