US economy grows, Greek Government agrees to deeper austerity, citizens riot

Bloomberg report that – The U.S. economy expanded at a 3.2 percent annual rate in the first quarter as households spent more freely, setting the stage for gains in employment that may help the recovery broaden and accelerate. and the Wall Street Journal note that Greece has agreed with the International Monetary Fund and the European Union to take additional austerity measures expected to yield “around €23 billion” ($30 billion) as a precondition for financial assistance, a Greek official familiar …

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German anger at paying for luxury Greek pensions

Bild on the Greek bailout – It is only a matter of days until Germany starts handing out billions in aid to the Greeks, according to Chancellor Angela Merkel. But for some experts, Greece is just a bottomless pit. And now anger is increasing in Germany, with many asking why they should pay for things like the luxury Greek pension system. They highlight superior Greek pensions, that German workers will now be paying for – The fact is that in …

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Greece activates EU-IMF bailout

The Greeks have called in the IMF. RTE report that Greek Prime Minister George Papandreou has asked for the activation of an aid package from the European Union and International Monetary Fund aimed at pulling the eurozone member out of a debt crisis.