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This evening, CNBC reported:
News Headlines
To put things into perspective, the amount of budget savings called for in the Greek agreement would be equivalent to almost $800 billion in savings from the U.S. budget. Prospects for Greece's ability to implement the agreed budget savings still remain uncertain, given expected substantial labor union opposition.
Greece will overhaul the state pension system as part of a package of austerity measures to clinch a three-year, multi-billion-euro aid deal, a Greek minister told the FT on Thursday.
Andreas Loverdos, social affairs minister told the Financial Times the measures included dropping the seasonal bonus for pensioners in a bid to slash Greece's bloated budget deficit.
News Headlines
To put things into perspective, the amount of budget savings called for in the Greek agreement would be equivalent to almost $800 billion in savings from the U.S. budget. Prospects for Greece's ability to implement the agreed budget savings still remain uncertain, given expected substantial labor union opposition.