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      Archive: 2/29/2012

      News Brief

        2/29/2012, Adar 6, 5772

      Greece Approves New Round of Cuts

      Greece’s Parliament has approved a new round of cuts aimed at meeting criteria for additional international aid. The cuts slashed 3.2 billion euros ($4.31 billion).

      Greece must adopt austerity measures before receiving 130 billion euro ($174 billion) in emergency loans from other EU nations and the International Monetary Fund. The loans aim to keep Greece from a financial collapse that could drag down the rest of the EU as well.

      Unemployment in Greece remains at a record high of 21%.