1. Greek Parliament Approves Austerity Plan
... the International Monetary Fund that it needed to survive the summer without defaulting. The 155 to 138 vote approved tax increases, wage cuts, and the privatization of 50 billion euros, or about $72 billion, in state assets. However, many are concerned that the measure will not be enough, but a second bailout is in the works for the July 3rd meeting of ... and will not be able to pay its bills without the loan (Chu). "The choice is simple: Either we press ahead with the road of change, a road that is difficult, or we choose catastrophe," said Papandreou to the Parliament just before th...
- Word Count: 1157
- Approx Pages: 5
- Has Bibliography
- Grade Level: Undergraduate