Rescue Plan for Greece Could Be Reached by Saturday

The Greece prime minister has said that there will be spending cuts and an increase in taxes. He was quoted as saying “the measures we must take, which are economic measures, are necessary for the protection of our country — for our survival, for our future, so we can stand firmly on our feet.” Part of the new plan gives the government the right to lay off the public sector workers since a lot of them receive high wages for a low level of productivity, which is a key factor in the countries debt. The country has very strong unions and jobs are "constitutionally guaranteed" which is the reason the government cannot lay off unproductive workers. A way in which they are going to decrease consumer prices is by deregulating the trucking industry. Their bailout plan will not only help Greece, but it will also help all countries that use the Euro. They said that even though the plan might be finished it will probably not be announced until Sunday or Monday due to the fact that Saturday is a national holiday in Europe.