Greece austerity programme on track

Greece's International lenders have cleared the way for the country to receive the next installment of its $150bn bailout package.

Officials from the EU and IMF say while its austerity programme remains largely on track, Greece needs to make an "extra effort" to reduce its budget deficit.




Meanwhile, rubbish collectors in Athens, Greece's capital, have been on strike for days, protesting cuts in wages and benefits imposed by austerity measures.

Barnaby Phillips reports from Athens.

EU $962 Billion Rescue Plan

FT's Boland on EU $962 Billion Rescue Plan

Bloomberg — May 10, 2010 — May 10 (Bloomberg) -- Vincent Boland of the Financial Times' Lex commentary team talks with Bloomberg's Deirdre Bolton about the European Union's 750 billion euro ($962 billion) aid package and program of bond purchases to help stop a sovereign-debt crisis that threatens to shatter confidence in the euro.

Greek Anger Rises as Papandreou Requests More Sacrifices

May 3 (Bloomberg) -- Reports from Athens on the reaction of residents to government calls for further sacrifices to ensure the country can stave off a debt default. Unions representing 500,000 civil servants called a 48-hour strike starting May 4. Local government workers called a snap strike for today, which will affect garbage collection in major cities. Teachers are also on strike from tomorrow and a general strike, the third this year, is planned for May 5.

Greece seeks record bailout

April 24, 2010 — Greece has asked for a 45 billion euro rescue package to help ease its debt burden. .

'

Angry Greek Pensioners Fight for Early Retirement Rights

April 22 (Bloomberg) -- Bloomberg's Nicole Itano reports on Greek public resistance to changes in the pension system. The Greek media has reported that Prime Minister George Papandreous government plans to reduce pensions by as much as 30 percent and increase retirement ages in an effort to reduce the biggest budget gap among EU nations.

After Greece Spain is also hit by strikes and turmoils

Spaniards Protest Against Plans to Raise Retirement Age

Feb. 24 (Bloomberg) -- Bloomberg's Jason Harris reports on protests in Spain against government plans to raise the retirement age. Andrea Catherwood also speaks.

EU Has Tepid Plan to Save Greece

Dow Jones Newswires Nick Hastings, Newoaks Ron DVari and Penn Financials Matt McCall on saving Greece.