MONDAY The News Germany, Europe’s largest economy and the most important — and most reluctant — partner in trying to help Greece forestall a financial meltdown, agreed to lend it up to $30 billion over three years, part of an international bailout package negotiated over the weekend. The European Central Bank said it would accept Greek bonds as collateral regardless of any credit downgrades. Behind the News The moves cleared up some lingering uncertainty over the bailout and relieved some of the upward pressure on the interest rates Greece had to pay. TUESDAY The News Public employees began striking in protest against pay and spending cuts proposed by the government of Prime Minister George Papandreou to stave off default, reassure investors and win backing for the bailout. Behind the News The high cost and low productivity of Greece’s vast public sector, which employs one-third of the labor force and until recently guaranteed jobs for life, were major factors l...
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