Greece to get bailout installment
Greece will receive the next part of its €110 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 today.
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Debt-stricken Greece is facing a fresh wave of protests over the wage and pension cuts to be introduced in its new austerity measures. The country’s public sector workers have taken to the streets in Athens, starting a 48-hour strike. They’re blaming the government for cutting spending and say low-income Greeks will be hardest hit. The draft bill of the new austerity package will be voted on by the end of the week. It’s aimed at securing a 110 billion euro rescue loan from the EU and IMF.