http://www.cnn.com/2013/04/28/world/europe/greece-bailout-layoffs/?hpt=hp_t3
According to the article the Greek government has agreed to fire 15,000 government workers. This has been done in order to secure a further 8.8 billion euros in the bailout packages from the European Union and the International Monetary Fund. This is a part of the series of budget cuts that have been implemented in the troubled nation. Increases in taxes and cuts in fiscal spending has led to unemployment and has not resulted in any economic growth. These austerity measures have been highly unpopular in the general public and ave led to many protests.
Furthermore, the sacking of public officials would be met with outcry because the Greek constitution as guaranteed permanent employment to a government employee. However, the bailout package is very important for Greece and it is in Greece's best interest to go ahead with the decision despite its unpopularity.
According to the article the Greek government has agreed to fire 15,000 government workers. This has been done in order to secure a further 8.8 billion euros in the bailout packages from the European Union and the International Monetary Fund. This is a part of the series of budget cuts that have been implemented in the troubled nation. Increases in taxes and cuts in fiscal spending has led to unemployment and has not resulted in any economic growth. These austerity measures have been highly unpopular in the general public and ave led to many protests.
Furthermore, the sacking of public officials would be met with outcry because the Greek constitution as guaranteed permanent employment to a government employee. However, the bailout package is very important for Greece and it is in Greece's best interest to go ahead with the decision despite its unpopularity.
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