Daily Israel Report
08:29
Reported

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%.