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-- public sector 10% wage cuts, including a 30% reduction in salary entitlements;
-- cutting civil service bonuses 20%;
-- freezing pensions;
-- raising the average retirement age two years; and
-- higher fuel, alcohol, tobacco, and luxury goods taxes, knowing much more lay ahead given Greece's worsening debt problem.
More bailout help is now needed in return for greater austerity, as well as selling off Greece's crown jewels as explained above. On June 24, New York Times writer Stephen Castle headlined, "Europeans Agree to a New Bailout for Greece with Conditions," saying:
The deal "came a day after Greece agreed with international creditors to more austerity measures (requiring parliamentary approval) as part of revised plans for 2011-15 aimed at" assuring bankers are first in line to get paid, popular and national interests be damned.
An agreement in principle expects half the funds offered to come from new loans, a fourth from state asset sales, and the remainder from private sector contributions.
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