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Greece seeks pension, wage reform as strike looms


BY NICHOLAS PAPHITIS; THE ASSOCIATED PRESS
Published: 02/08/10 2:18 am | Updated: 02/09/10 1:45 am SHARE THIS STORY

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ATHENS, Greece –
Greece's government on Tuesday tackled the thorny issue of pension and
wage reform, part of its plan to fight a debt crisis that has alarmed global SIMILAR STORIES
markets, even as strikes were being planned nationwide.
Greece spent its way into deep debt crisis

The cabinet talks come as Prime Minister George Papandreou's center EU cautions Greece about its deficit
left government accelerates austerity measures meant to calm markets EU backs Greek plan to cut debt
and European Union partners, who have urged Athens to swiftly deal with Greek unions launch 1st assault on
the crisis. austerity plan
Greek strike deepens debt crisis fears
Greece's budget deficit is more than four times the limit allowed by the
EU, while the public debt has exceeded 113 percent of annual economic
output. This has forced the country to borrow at high rates from international markets, which fear the crisis could spread to
other troubled EU economies.

The government has announced euro2 billion ($2.74 billion) in public spending cuts so far, and hopes to raise more than
euro5 billion from extra taxes and fighting endemic tax evasion.

But Papandreou's Socialists, elected four months ago, have shied at further salary cuts or layoffs in the civil service, which
employs some 750,000 people - all guaranteed lifetime jobs.

Still, the reforms announced so far have angered powerful labor unions, and civil servants have called a nationwide strike
Wednesday to protest a wage freeze and bonus cuts.

The walkout will affect state schools, hospitals, tax offices and local government offices, while all Greek airports will be
closed to international and domestic flights. Private sector workers will walk off the job on Feb. 24

Papandreou on Monday called on the unions to show restraint.

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