First austerity package (Greece)
| First austerity package | |
|---|---|
 | |
| Hellenic Republic | |
| Territorial extent | Greece |
| Enacted by | Hellenic Parliament |
| Introduced by | Government of Greece |
| Status: In force | |
The First austerity package is the first in a row of countermeasures of the Greek government to counter the Greek government-debt crisis. It was approved by the Hellenic Parliament in early 2010.
The first round came with the signing of the Memorandum with the International Monetary Fund (IMF) and the European Central Bank (ECB) concerning a loan of €80 billion. The package was implemented on 9 February 2010 and was expected to save €0.8 billions; it included a freeze in the salaries of all government employees, a 10% cut in bonuses, as well as cuts in overtime workers, public employees and work-related travels.[1]
See also
- Second austerity package (Greece)
- Third austerity package (Greece)
- Fourth austerity package (Greece)
- Fifth austerity package (Greece)
- Sixth austerity package (Greece)
- Seventh austerity package (Greece)
References
- ↑ "Πάγωμα μισθών και περικοπές επιδομάτων ανακοίνωσε η κυβέρνηση" [Government announced cuts and a freeze in salaries]. enet.gr. 9 February 2010. Retrieved 14 August 2011.