Greece Strikes Deal on Austerity Plan

Greece has reached agreement with its international creditors on new austerity measures necessary to release fresh bailout funds. If passed, Greece will impose 13.5bn euros of cuts. Prime Minister Antonis Samaras said, “If this deal is approved and the budget is voted, Greece will stay in the euro and exit the crisis.”
Details of the budget cuts remain sketchy, but Mr Samaras is seeking broader powers to privatise public services. However, there has been dissent among members of the three-party coalition government, and the delay in voting on the package will give Mr Samaras more time to reach a consensus. The prime minister said in a statement on Tuesday that he had “exhausted all the available time” to try and reach a consensus in parliament.