Greece continues with difficult budget measures
POSTED: Monday, June 6, 2011 - 9:35am
UPDATED: Monday, June 6, 2011 - 11:20am
NBC News —
Thousands of members of Greece's Communist Labor Union marched through Athens friday to protest the government's austerity measures. The march took them past the Finance Ministry, a building occupied by protesters earlier in the day. Greece faces additional austerity measures after debt inspectors said Greece is expected to receive the next installment of a 159 billion dollar bailout next month.
Inspectors said before the next installment of the bailout is paid, Greece must take additional austerity and privatization measures. Greece is seeking to narrow its deficit from ten and a half percent in 2010 to seven and a half percent by the end of the year. The Finance Minister is expected to announce a new round of tax hikes and spending cuts in the coming days.