patrick.net

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After having forced through further austerity measures Greece is set to receive its next bailout instalment. The bailout comes at the expense of thousands of public sector jobs. A rescue loan of 4 billion euros will come from the eurozone and European central banks. The IMF is also expected stump up a further 1.8 billion. To get the loans, Athens will have to fire 4000 civil servants by the end of the year. Greece has been relying on rescue funds for over three years now, but as financial expert Patrick Young explains, it's done little to cure the country's financial...