The country is battling to rein in a bulging government debt that will reach 125% of GDP this year. Policymakers are hoping to reduce the domestic shortfall from 12.7% last year to less than 3% by 2012. To hit the targets, the Greek government plans to freeze civil servant pay, introduce taxes on wealthy estates, and increase tobacco and alcohol levies by 20%.
- London Facing Fresh Tube Strikes over Ticket Office Closures
- Study Serves Huge Blow to 'Any Remaining Climate Change Deniers'
- China Housing Market Bubble Start to Pop as Economy Faces Hard-Landing
- Snake Eats Centipede and Centipede Eats Snake from Inside to Escape
- Reverse Heartbleed: Individual Users Left Vulnerable to new OpenSSL Attack