19:21
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The Greek government said
it passed a new budget backed by its international creditors, including
larger deficits than previously forecast, as the country moves closer to
securing an 8 billion-euro ($10.7 billion ) aid payout needed to avoid
default.
PM George Papandreou's Cabinet also passed 6.6 billion euros of austerity measures last night to cut the 2012 deficit to 6.8% of gross domestic product, missing the 6.5% goal previously set with the EU, International Monetary Fund and European Central Bank, known as the troika . Finance Minister Evangelos Venizelos had previously said Greece would miss the targets and the troika accepted the new budget. Full Read
PM George Papandreou's Cabinet also passed 6.6 billion euros of austerity measures last night to cut the 2012 deficit to 6.8% of gross domestic product, missing the 6.5% goal previously set with the EU, International Monetary Fund and European Central Bank, known as the troika . Finance Minister Evangelos Venizelos had previously said Greece would miss the targets and the troika accepted the new budget. Full Read
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