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}); </script> <div id="yui-main"> <div class="yui-b"> <div class="content post"> <div class="sl-layout-post"> <h1>MEANWHILE: Developments In Greece...</h1> <div id="content" class="content"> <div class="post-top">  <div class="byline"> <a href="/author/linette-lopez">Linette Lopez</a> <span class="pipe">|</span> <span class="date">Sep. 21, 2011, 3:17 PM</span> <span class="pipe">|</span> <nobr><span class="red views" title="views">1,209</span></nobr> <span class="pipe">|</span> <nobr title="Read comments"> <a href="http://www.businessinsider.com/meanwhile-developments-in-greece-2011-9#comments" class="comments-icon"></a> <a class="comment_count" href="http://www.businessinsider.com/meanwhile-developments-in-greece-2011-9#comments">5</a> </nobr> </div>  <div class="share"> <ul class="share clear-both"> <li class="font-sizes"> <div class="font-sizes"> <span class="small"><a href="#" onclick="changeFontSize('small','BI_fontSize');return false">A</a></span> <span class="med"><a href="#" onclick="changeFontSize('med','BI_fontSize');return false">A</a></span> <span class="large"><a href="#" onclick="changeFontSize('large','BI_fontSize');return false">A</a></span> </div> </li> <li class="email"> <a class="buttons-image button-email" href="" onclick="gaPageTrack('Share','Click','Email');$('#share-email').toggle();$('.post embed').toggleClass('visibility-hidden'); 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$('div.share-email-body').hide(); $('div.share-email-success').show(); } else { $('div.share-email-error').html(result.error_msg); $('div.share-email-error').show(); } } }); return false; }); </script> </div> </div> <div class="small clear-both"> <div class="KonaBody post-content"> <p><div class="image-container float_right" style="width:400px"><div class="image"><img src="http://static6.businessinsider.com/image/4e77323e69beddba4c00001c-400-300/greece-flag-water.jpg" border="0" alt="greece flag water" width="400" height="300" /></div><p class="source">Image: <a href="http://www.flickr.com/photos/aster-oid/3383912837/">John D. Carnessiotis on Flickr</a></p></div>As everyone in the world was <a href="http://www.businessinsider.com/federal-reserve-announcement-fomc-operation-twist-2011-9">transfixed</a> on the Fed, Greece continues to do what it takes to get its next bailout tranche and stay in the Eurozone.</p> <p>The Greek cabinet agreed on yet another round of austerity measures today. The details come to us from <a href="http://www.reuters.com/article/2011/09/21/idUSA8E7JO01A20110921">Reuters</a>:</p> <ul> <li>Pensions of more than <span id="articleText">$1,642.913 a month</span> wil be cut by 20%</li> <li>Payments to state workers who retired before age 55 will be reduced</li> <li>30,000 civil servants will go into "labor reserve"-- that means their pay will be reduced to 60% of their salaries while they have 12 months to find a new job in the state sector or be laid off.</li> </ul> <p>The government also promised to extend a new real estate, intended to end next year, til 2014.</p> <p>An official sign-off from the Troika is still not official AND, according to journalist Matina Stevis, <a href="http://twitter.com/MatinaStevis/statuses/116565454474051584">there still needs to be a parliament vote</a>.</p> </div> </div> </div> <p class="border-bottom-dotted"> Please follow <a href="http://www.businessinsider.com/moneygame">Money Game</a> on <a href="http://twitter.com/#!/themoneygame">Twitter</a> and <a href="http://facebook.com/businessinsider.moneygame">Facebook</a>. <br>Follow Linette Lopez on <a href="http://twitter.com/lopezlinette">Twitter</a>. <br><a href="/questions/ask?ask_author=4de5075f4bd7c8ac38080000">Ask Linette A Question ></a> </p> <div class="container"> <div class="tags"> Tags: <a href="/category/economy">Economy</a>, <a href="/category/greece">Greece</a>, <a href="/category/austerity">Austerity</a>, <a href="/category/economic-crisis">Economic Crisis</a>, <a href="/category/eurozone">Eurozone</a>, <a href="/category/euro">Euro</a>, <a href="/category/europe">Europe</a> | <a class="get-alerts" href="#" onclick="$('#alerts-dialog').dialog('open'); 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value="subscribe_email_alerts" /> <label>Email</label> <input name="email" type="text" value="" /> <input type="submit" class="submit-button" value="Subscribe" /> </form> </div> </div> <span>5 Comments</span> <a href="http://www.businessinsider.com/meanwhile-developments-in-greece-2011-9/comments.rss" class="icon-feed" title="RSS"></a> </h2> </div> <div class="comments-content"> <div id="comment-shell-4e7a3b1ceab8ea6406000046"> <div id="comment-4e7a3b1ceab8ea6406000046" class="comments odd cid-4e7a3b1ceab8ea6406000046"> <div class="inner"> <div> <div class="ratings-area "> <div class="float-left ratings ratings-up"> <a class="rate-up" href="#" onclick="return comment_rate(this, 1)"> <span class="count">0</span> </a> </div> <div class="float-left ratings ratings-down"> <a class="rate-down voted" href="#" onclick="return comment_rate(this, -1)"> <span class="count">2</span> </a> </div> <div class="clear-both"> <div class="offensive-link"> <a href="#" onclick="return comment_flag_offensive(this)">Flag as Offensive</a> </div> </div> </div> <b> facebook_expert </b> <span class="smaller"> on <a href="http://www.businessinsider.com/c/4e7a3b1ceab8ea6406000046" title="Permalink to this comment" rel="nofollow"> Sep 21, 3:29 PM </a> said: </span> <div class="comment-content" id="comment-content-4e7a3b1ceab8ea6406000046"> <div class="comment-text"> buy the dips<br /> <a href="http://seekingalpha.com/user/926530/instablog/full_index" target="_blank">http://seekingalpha.com/user/926530/instablog/full_index</a> </div> </div> </div> <div class="reply-button"> <a class="button-link" href="#comment-form" onclick="return comment_reply(this)"><span>Reply</span></a> </div> <div class="reply-container"></div> </div> </div> </div> <div id="comment-shell-4e7a3d4eeab8ea7a1e000009"> <div id="comment-4e7a3d4eeab8ea7a1e000009" class="comments even cid-4e7a3d4eeab8ea7a1e000009"> <div class="inner"> <div> <div class="ratings-area "> <div class="float-left ratings ratings-up"> <a class="rate-up voted" href="#" onclick="return comment_rate(this, 1)"> <span class="count">3</span> </a> </div> <div class="float-left ratings ratings-down"> <a class="rate-down" href="#" onclick="return comment_rate(this, -1)"> <span class="count">0</span> </a> </div> <div class="clear-both"> <div class="offensive-link"> <a href="#" onclick="return comment_flag_offensive(this)">Flag as Offensive</a> </div> </div> </div> <b> zorba the meek </b> <span class="smaller"> on <a href="http://www.businessinsider.com/c/4e7a3d4eeab8ea7a1e000009" title="Permalink to this comment" rel="nofollow"> Sep 21, 3:38 PM </a> said: </span> <div class="comment-content" id="comment-content-4e7a3d4eeab8ea7a1e000009"> <div class="comment-text"> the average stavros souvlaki on the street how only two choices 1) leave the country which will soon resemble east germany during the cold war or 2) order the baklava, it's delicious. </div> </div> </div> <div class="reply-button"> <a class="button-link" href="#comment-form" onclick="return comment_reply(this)"><span>Reply</span></a> </div> <div class="reply-container"></div> </div> </div> </div> <div id="comment-shell-4e7a415b69beddb14800002d"> <div id="comment-4e7a415b69beddb14800002d" class="comments odd cid-4e7a415b69beddb14800002d"> <div class="inner"> <div> <div class="ratings-area "> <div class="float-left ratings ratings-up"> <a class="rate-up" href="#" onclick="return comment_rate(this, 1)"> <span class="count">0</span> </a> </div> <div class="float-left ratings ratings-down"> <a class="rate-down" href="#" onclick="return comment_rate(this, -1)"> <span class="count">0</span> </a> </div> <div class="clear-both"> <div class="offensive-link"> <a href="#" onclick="return comment_flag_offensive(this)">Flag as Offensive</a> </div> </div> </div> <b> depression </b> <span class="smaller"> on <a href="http://www.businessinsider.com/c/4e7a415b69beddb14800002d" title="Permalink to this comment" rel="nofollow"> Sep 21, 3:56 PM </a> said: </span> <div class="comment-content" id="comment-content-4e7a415b69beddb14800002d"> <div class="comment-text"> these types of cuts are unthinkable ...... </div> </div> </div> <div class="reply-button"> <a class="button-link" href="#comment-form" onclick="return comment_reply(this)"><span>Reply</span></a> </div> <div class="reply-container"></div> </div> </div> </div> <div id="comment-shell-4e7a47cb69beddac0c000001"> <div id="comment-4e7a47cb69beddac0c000001" class="comments even cid-4e7a47cb69beddac0c000001"> <div class="inner"> <div> <div class="ratings-area ratings-fb "> <div class="float-left ratings ratings-up"> <a class="rate-up voted" href="#" onclick="return comment_rate(this, 1)"> <span class="count">2</span> </a> </div> <div class="float-left ratings ratings-down"> <a class="rate-down" href="#" onclick="return comment_rate(this, -1)"> <span class="count">0</span> </a> </div> <div class="clear-both"> <div class="offensive-link"> <a href="#" onclick="return comment_flag_offensive(this)">Flag as Offensive</a> </div> </div> </div> <div class="user-image"><img src="http://static6.businessinsider.com/image/4dbe339e4bd7c89052120000-50-sq/image.jpg" /></div> <b> <a href="/commenter?id=4dbe320f49e2ae8260070000">marktheshark</a> </b> <span class="smaller"> on <a href="http://www.businessinsider.com/c/4e7a47cb69beddac0c000001" title="Permalink to this comment" rel="nofollow"> Sep 21, 4:23 PM </a> said: </span> <div class="comment-content" id="comment-content-4e7a47cb69beddac0c000001"> <div class="comment-text"> Greece will blow up right after the next election. Whoever is up against the status quo will demand "hope" and "change", promising to return to the Drachma and preserve social spending. Papandreou is obviously on his way out, no Prime Minister who is rioted against stays in power in a legitimate democracy. If we don't see any difference with the next party in power, Greece will rip itself apart. The birthplace of democracy will be the deathbed of it. </div> </div> </div> <div class="reply-button"> <a class="button-link" href="#comment-form" onclick="return comment_reply(this)"><span>Reply</span></a> </div> <div class="reply-container"></div> </div> </div> </div> <div id="comment-shell-4e7af926eab8ea2a31000005"> <div id="comment-4e7af926eab8ea2a31000005" class="comments odd cid-4e7af926eab8ea2a31000005"> <div class="inner"> <div> <div class="ratings-area "> <div class="float-left ratings ratings-up"> <a class="rate-up voted" href="#" onclick="return comment_rate(this, 1)"> <span class="count">2</span> </a> </div> <div class="float-left ratings ratings-down"> <a class="rate-down voted" href="#" onclick="return comment_rate(this, -1)"> <span class="count">1</span> </a> </div> <div class="clear-both"> <div class="offensive-link"> <a href="#" onclick="return comment_flag_offensive(this)">Flag as Offensive</a> </div> </div> </div> <b> Jamie Sims </b> <span class="smaller"> on <a href="http://www.businessinsider.com/c/4e7af926eab8ea2a31000005" title="Permalink to this comment" rel="nofollow"> Sep 22, 5:00 AM </a> said: </span> <div class="comment-content" id="comment-content-4e7af926eab8ea2a31000005"> <div class="comment-text"> Why is it the rich of Greece has still got away without paying as most of them got their fortunes through corruption. We want the government to be punished for their poor behavior towards their country and people but unfortunately it is the people who are paying the price with their lives, jobs, houses. The Government still has not collected taxes from 2009. There is still tax free on boats which the government loses out on 300 million euro per year because of a stupid loop hole and not one politician has taken a pay cut. and yet when people were starving and the markets were in turmoil the government went on their summer hols, now is that the behavior of a government who is determined to make change? </div> </div> </div> <div class="reply-button"> <a class="button-link" href="#comment-form" onclick="return comment_reply(this)"><span>Reply</span></a> </div> <div class="reply-container"></div> </div> </div> </div> </div> </div>  </div>   <a name="comment-form"></a> <div class="comments-open" id="comments-open"> <h2 class="comments-open-header"> Join the discussion with Business Insider <br /> <span class="fb"></span><a href="#" class="fb" onclick="return fb_login()">Login With Facebook</a> <span class="twitter"></span><a id="comment_tw_login_link" href="/account/twitter" class="twitter" rel="nofollow">Login With Twitter</a> </h2> <div class="comments-open-content"> <form id="comments-form" action="#comment-form" method="post" name="comment"> <input type="hidden" name="action" value="create" /> <input type="hidden" name="reply" value="" /> <input type="hidden" name="slide" value="" /> <div class="comments-open-data"> <div id="comment-form-name"> <label for="author">Name (Required)</label> <input name="author" size="30" value="" /> </div> <div id="comment-form-email"> <label for="email">Email Address (Required but never displayed)</label> <input name="email" size="30" value="" /> </div> <div id="comment-form-url"> <label for="url">URL</label> <input name="url" size="30" va