Friday, 10 February 2012

Greece Austerity Deal Hits People Hard

Greece's political leaders have finally reached an agreement on further austerity cuts in order to get a second bailout package worth $170bn from EU and IMF to avoid a looming bankruptcy. EU finance ministers have been meeting in Brussels to discuss the details of the deal, while in Athens thousands of people have been gathering outside parliament against the deal. The deal includes cuts to pensions worth hundreds of millions of dollars, reduction of private-sector wages and termination of 150,000 public sector jobs by 2015. Greek unions have planned a 48-hour strike which is due to begin on Friday. Al Jazeera's John Psaropoulos reports from Athens.