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Bombings, Clashes Kill 131 in Syria as Gunmen Assassinate Parliament Speaker's Brother
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Europe
Is Greece's future in the eurozone in question?
While the US presidential elections are stealing the limelight, on this side of the pond, votes taking place in the Greek parliament could prove equally crucial.

With the country stuck in its fifth successive year of recession, Greek politicians must on Wednesday night vote on a fresh round of spending cuts and tax hikes totalling 13.5bn euros ($17.3bn; £10.8bn) - the fourth such package since the debt crisis started three years ago.

On Sunday there is a second vote to approve Greek Prime Minister Antonis Samaras' proposed budget for 2013.

The austerity measures include a two-year increase in the retirement age from the current average of 65, salary and pension cuts and another round of tax increases.

Both these reforms and the proposed budget must be passed for Greece to receive its next tranche of 31.5bn euros of aid, which is already on hold from the end of September. Any chance of getting approval for a subsequent softening of its 130bn euro bailout terms also hinges on these votes.

Without the 31.5bn euros, needed to recapitalise Greece's banks, Mr Samaras has warned the country will run out of money by the middle of this month, and descend "into chaos".

With the left-wing and socialist members of the fragile coalition government wavering, Mr Samaras has insisted that these cuts will be the "very last", with the only other option a eurozone exit leading to what he has estimated would be an 80% drop in the standard of living.

"We promised to avert the country's exit from the euro and this is what we are doing. We have given absolute priority to this because if we do not achieve this everything else will be meaningless," Mr Samaras added.
Continued on Page 47
Posted by: tipper || 11/07/2012 02:28 || Comments || Link || [11125 views] Top|| File under:



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Two weeks of WOT
Wed 2012-11-07
  Bombings, Clashes Kill 131 in Syria as Gunmen Assassinate Parliament Speaker's Brother
Tue 2012-11-06
  Suicide bomber kills at least 27 by army base near Baghdad
Mon 2012-11-05
  Grenade attack on Kenya church kills 1, wounds 14
Sun 2012-11-04
  Two Suicide Bombers Attack Restaurant in Somali Capital
Sat 2012-11-03
  30 people shot dead in Nigeria, rights group says
Fri 2012-11-02
  US withdraws its support for Syrian National Council
Thu 2012-11-01
  Armed Islamists on Tunis streets after clashes
Wed 2012-10-31
  18 militants killed in Khyber, Orakzai
Tue 2012-10-30
  Israel Hit by 18 Rockets as Hamas Seeks Revenge
Mon 2012-10-29
  52 Dead in Syria Clashes, Air Raids after Eid Truce Collapses
Sun 2012-10-28
  Almost 150 Killed on First Day of Syria Truce
Sat 2012-10-27
  Indonesia foils plot to attack US missions
Fri 2012-10-26
  Afghanistan mosque suicide bomb attack kills at least 41
Thu 2012-10-25
  Israel says 79 rockets fired at it from Gaza
Wed 2012-10-24
  Libya fighters seize Bani Walid


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