Tuesday, June 21, 2011

Calls grow for Greek Marshall Plan

 


















 As budget cuts and tax increases push Greece deeper into recession, politicians, economists and business leaders are calling for a new approach - a Marshall Plan that would jolt its economy back to life and give its citizens new hope.


Debt-ridden Greece is currently negotiating a second rescue package, on top of the euro110 billion ($158 billion) it was granted a year ago. However, those loans depend on harsh austerity measures and an overhaul of Greece's economy, which are designed to make the country fit in the long-term, but will likely worsen citizens' financial pain in the short-term.
 
Associated Press