Greece unveils painful draft budget

Greece unveiled a draconian draft budget for 2013 on the 1 October 2012 that would slash spending on pensions, salaries, and healthcare while assuming the economy would shrink by up to 4% in 2013 on top of a 6.5% contraction in 2012.

Greek officials also continued to have discussions with officials from the 'troika' – the European Central Bank, European Commission and International Monetary Fund.

BBC News, 1.10.12: Greece predicts deeper 2012 recession http://www.bbc.co.uk/news/business-19791050

ESO: Background information: Greece should get more time, France says http://www.europeansources.info/record/greece-should-get-more-time-france-says/

ESO: Key source: The Greek Debt Crisis http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

ESO: Background information: Greek unemployment rises to 24.4 per cent http://www.europeansources.info/record/greek-unemployment-rises-to-24-4-per-cent/

ESO: Background information: Greek cuts to be deeper than trailed http://www.europeansources.info/record/greek-cuts-to-be-deeper-than-trailed/

Kathimerini, 1.10.12: Troika sticks to its guns in austerity talks http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_7718_01/10/2012_463997

Spiegel Online International, 1.10.12: Europe Intent on Saving Greece Despite Lag in Reforms http://www.spiegel.de/international/europe/troika-unimpressed-with-greek-reforms-but-european-support-continues-a-858904.html

Kathimerini, 5.10.12: Samaras raises alarm about lack of liquidity, threat to democracy http://ekathimerini.com/4dcgi/_w_articles_wsite1_15805_05/10/2012_464693

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