Germany questions Greek austerity plan

Hours after Greece made the unpopular decision to slash government spending in an attempt to ease its debt crisis, Germany’s finance minister questioned whether the deal goes far enough to earn a crucial $172 billion bailout.

THE NEWS TRIBUNE

Published: 02/10/12 12:05 am

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Hours after Greece made the unpopular decision to slash government spending in an attempt to ease its debt crisis, Germany’s finance minister questioned whether the deal goes far enough to earn a crucial $172 billion bailout.

Greece’s new austerity plan would make deep cuts to wages and public sector jobs. It ignited new criticism from unions and the country’s deputy labor minister, who resigned in protest.

But finance ministers from the other 16 countries that use the euro at a meeting in Brussels indicated that even those painful steps may not be enough.

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