Greece’s Parliament on Wednesday voted in favor of an austerity plan demanded by the country’s foreign lenders before they would provide it with a financial rescue package and avert a debt crisis that could have shaken its European neighbors and economies throughout the world.
The austerity steps, which include wage cuts, tax increases and privatizations in a recession-starved country, were required to unlock the next installment of aid that the country needs to avoid default on its debts./NEW YORK TIMES
Readers' Comments (NY Times):
"The austerity plans are going to hurt those Greeks that work hard, live on pension, that save, that pay taxes.The tax evaders with Swiss bank accounts, the lazy who live on welfare, etc. are going to see very little impact.
Same thing happened here. The bankers who should have been wiped out if we hadn't bailed them out but had the banks restructured under the free market laws." /Dana Point, CA
