Greece Promises To Double Austerity Measures To Keep On Track For Continued Seigniorage Aid

 Kathimerini reports Greece promised to double the size of austerity measures for this year, from €3bn to €6bn, after coming under increasing pressure to bring its budget program back on track. The government will announce in the next few days measures that will exceed €6bn measures with the aim of reducing spending and measures to increase revenue, said Georgios Papaconstantinou. This may include redundancy layoffs in the public sector, new recruitment will be freezed. Georgios Papapandreou already announced 150,000 job departures in the public sector.


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