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30 billion euro cuts under Greek bailout deal

Other News Materials 2 May 2010 17:01 (UTC +04:00)
Greek Finance Minister George Papaconstantinou said Sunday Greece will make budget cuts of 30 billion euros over three years to bring the public deficit back on track under an European Union and International Monetary Fund bailout
30 billion euro cuts under Greek bailout deal

Greek Finance Minister George Papaconstantinou said Sunday Greece will make budget cuts of 30 billion euros over three years to bring the public deficit back on track under an European Union and International Monetary Fund bailout, DPA reported.

He said the government will bring the deficit back to under the European Union threshold of 3 per cent by 2014.

Papaconstantinou also said bonuses for the pubic sector would be cut.

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