Yesterday, the Greek government announced a spate of emergency austerity measures, designed to help the country close its yawning budget gap. Half are new taxes, and half are spending cuts, including:
Other measures include: an additional 1 percent tax on income over 100,000 euros, reducing government overtime hours by 30 percent, cutting public-sector benefits 10 percent, and taxing the commercial activities of churches. And it's still not quite enough -- Greece needs an additional bailout to help it pay off debt due this spring.
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