Greece presents big cuts package
by Valerie Shijie XIE
http://www.bbc.co.uk/news/world-europe-20206710
Greece presents cuts package to parliament which worth 13.5bn euro. The cuts include tax rises, spending cuts and structural reforms. Parliament will vote for thsi and make a final decision. Nov 16 is the deadline for Greece to repay 5bn euros in debt, in this case, international lenders hold th opinion that Greece must pass the measures to receive any more bailout cash, otherwise, Greece would go bankrupt. Dut to the cuts, the main unions of public have called a 48-hour general strike. Antonis Samaras, Prime Minister, tried to reassure the public and guranteed thess will be the last cuts in wages and pensions.
The Eurozone crisis are strait, especially in Greece, Spain and Italy. It may not be easy for the Greek economy recover in a short time, the debts are like a deep hole. The European Union and IMF provided 110bn euros of bailout loans to Greece to help the government repay its creditors in May 2010,and a further 130bn euro this year. In addition, Greece has been in recession for four years, where could it to obtain a massive amount money to pay the debts in such a short time. Go bankrupt might be the best way.