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(WSJ) Greece To Miss Deficit Goal, Cabinet Okays Job Cuts

Posted on October 3, 2011 by Kendall Harmon

Greece’s government acknowledged Sunday that it will miss its deficit targets this year, but moved ahead with a controversial plan to slash thousands of public sector jobs to meet the demands of its international creditors.

“I want to repeat that we will be unswerving in our goal: to fulfill all that we have promised to ensure the credibility of our country,” Prime Minister George Papandreou told an extraordinary cabinet meeting called to approve the country’s 2012 draft budget as well as the job-cutting plan.

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Posted in * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Economy, Europe, Foreign Relations, Greece, Labor/Labor Unions/Labor Market, Politics in General