GREEK

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Selection Criterial

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CFIN ch6: Bonds

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CAUSES OF Stress

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Equity vs Debt

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GREEK

Germany warns Greece over rescue

The Eurozone plan to save Greece

Leaders agreed on a 100 bn euros loan to Athens and a 50% debt write-off

The planned referendum threatens to unravel a deal reached at EU summit last week aimed at resolving the euro debt crisis

A referendum was vital to try to overcome resistance on the streets to deepening cuts.

China has added its voice to those calling for swift action.

Greece would offer "a clear mandate" for austerity measures demanded by eurozone partners.

Germany would make it clear in talks with the greek pm that the plan as needed.

France was also determined to see the deal implented fully.

Austerity Measures

Labour Market Reform

The law will make it easier for the companies to cut their payroll costs.

Privatisation

In 2012 they plans to sell stakes in diferent companies

The government aims to rise 50 bn euros from privatisations.

Cutting Benefits

The Statutory Retirement age will be raised

Monthly Pensions

Social Security

Spending Cuts

Edutation

Subsidies

Public Investment

Health

Defense

Taxation

Public Sector Cuts

The public sector wage bill will be cut steadily

Tax will increase

2014

699 m

2013

152 m euros

2012

3.38 bn euros

2011

2.32 bn euros