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Greece / More civil servants to be retrenched

GREECE cleared an important hurdle in its drive to receive its next batch of bailout loans after international debt inspectors said yesterday that they had reached an agreement over the country’s economic reforms, including the firing of thousands of civil servants.

The review by delegates from the International Monetary Fund (IMF), European Commission and European Central Bank – known collectively as the troika – was part of a regular process under which Greece receives instalments of its multibillion-euro bailout.

“Greece is being stabilised and our position is being bolstered,” Prime Minister Antonis Samaras said in a televised address yesterday. “Late last night we reached an agreement for the disbursement of the next instalment of e2.8 billion (R32.1bn), and the road has opened for the May instalment of e6 billion,” Samaras said.

Chosen excerpts by Job Market Monitor

Capture d’écran 2013-04-16 à 13.16.59

via Greece agrees to retrench civil servants – International | IOL Business | IOL.co.za.

Greece Reaches a Deal for More Bailout Money

After nearly two weeks of tense negotiations, Greece and its troika of foreign creditors said Monday that they had clinched an agreement on economic measures that Athens must enforce to secure the release of further crucial rescue money. Those measures include thousands of layoffs in the civil service.

“We wrapped it up; we have a deal with the troika,” Yannis Stournaras, the nation’s finance minister, told reporters.

In a televised address, Prime Minister Antonis Samaras said the deal showed that years of austerity were beginning to pay off.

In his address, Mr. Samaras said the 15,000 layoffs in the state sector would be replaced by new recruits as part of “a qualitative upgrade of the civil service.” “The same number of new young people will be recruited in their place,” he said.

Chosen excerpts by Job Market Monitor

'New York to Create 5,000 Temporary Jobs in Storm-Stricken Areas - NYTimes_com' - cityroom_blogs_nytimes_com_2012_11_25_new-york-state-creating-5000-temporary-jobs-in-storm-stricken-area

Greece Reaches a Deal for More Bailout Money – NYTimes.com.

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