Showing posts with label troik. Show all posts
Showing posts with label troik. Show all posts

Tuesday, March 12, 2013

Greece Faces 150,000 Job-Cut Hurdle to Aid Payment: Euro Credit

Bloomberg News
By Maria Petrakis and Marcus Bensasson on March 11, 2013
http://www.businessweek.com/news/2013-03-11/greece-faces-150-000-job-cut-hurdle-to-aid-payment-euro-credit#p1
Greece is locked in talks with international creditors in Athens about shrinking the government workforce by enough to keep bailout payments flowing.

Identifying redundant positions and putting in place a system that will lead to mandatory exits for about 150,000 civil servants by 2015 is a so-called milestone that will determine whether the country gets a 2.8 billion-euro ($3.6 billion) aid instalment due this month. More than a week of talks on that has so far failed to clinch an agreement.