Getting Greece Back on Its Feet
The process of repairing Greece's financial system continues. On Wednesday, a package of spending cuts squeaked through Greek Parliament, garnering 153 out of a possible 300 votes. Over the weekend, we learned that this same body passed an austerity-laden budget for 2013. Thus, two barriers were removed from the process of bailing out the troubled nation.
The next tranche of credit from the European Union (EU) and the International Monetary Fund (IMF), worth $40 million USD, will be made available -- it's just a question of when. We already know that today's meeting of European area finance ministers will be inconclusive; the German Finance Ministry has already stated that there would be no deal today on Greece's bailout program....411 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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