Greek Government to Announce Billions More in Austerity Measures
Submitted on June 3, 2011
By Andre Damon - WSWS
The Greek government is preparing to announce another €6.4 billion ($9.3 billion) in austerity measures, after Moody's, the debt rating agency, cut the country's credit rating three notches, sending it deep into junk status...The Greek government responded to the downgrade by stating that it will go through with the austerity measures demanded by the [European Union] and IMF regardless of domestic opposition.
