Wednesday, Sep 01, 2010
Funny how this comes after the massive growth they posted
Yahoo / afp: Merkel cabinet approves German spending cuts
Chancellor Angela Merkel's cabinet signed off Wednesday on a hefty austerity package that critics say will hit the poorest hardest and could endanger Germany's recovery.
The 80-billion-euro (102-billion-dollar) package of spending cuts over the period 2011 to 2014 include big cuts in unemployment and parental leave benefits.
Ministers were told to tighten their belts across the board, including in military spending, with Defence Minister Karl-Theodor zu Guttenberg proposing a sharp cut in the size of the Bundeswehr and doing away with conscription.
Posted by mark @ 12:38 PM (454 views) Add Comment
1 Comment
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1. stillthinking said...
Stuffed vine leaf wrap, large glass of retsina, grab your own balls and shout "Hurrah!", then down to the beach.