Greece cleared to get next bailout installment
Greece will receive the next part of its euro110 billion (0 billion) bailout package on time, but still faces challenges in reforms and must make an extra effort to meet next year’s deficit targets, its international donors said Tuesday.
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Greece is being brought to a standstill by another nationwide strike against government debt reduction measures. The twenty-four hour walkout is already the second in the last ten days. It has been shutting down public services, grounding flights and closing schools and hospitals. Violent protests erupted at the end of February when the government unveiled new measures to help curb its debt of more than 400 billion dollars. The austerity package included a rise in consumer taxes and a pension freeze. The EU has pressured Greece into taking this harsh action, but has failed to offer any financial help. Nigel Farage, leader of the UK Independance Party, says countries like Greece and Spain should never have been allowed to join the union.
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