Sunday, October 2, 2011

Marching backward toward the cliff in Greece


About 30,000 state workers to lose jobs after being put on reserve as indebted country battles to stave off bankruptcy.

The Greek cabinet approved a measure to begin reducing the number of state workers, a contentious part of an austerity plan aimed at freeing up EU and IMF loans.

The plan that was approved on Sunday creates a "labour reserve" allowing state workers to be placed on partial pay and be dismissed after a year.

The government has said it would put 30,000 workers in the reserve by the end of this year.

"The labour reserve measure was approved unanimously," a deputy minister who participated in a cabinet meeting told the Reuters news agency on condition of anonymity while the cabinet meeting was still under way.

Sunday's move is the most contentious part of a reform package demanded by the two institutions.
Read the rest at Al Jazeera, Greek government approves retrenchment plan

That's just crazy.

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