Jul 192012
 

TEMPERS frayed this week, as Greece’s new coalition government tried, and failed, to find €11.5 billion ($14 billion) of spending cuts demanded by the European Union (EU) and IMF in 2013 and 2014 as part of the country’s second international bail-out. “Some ministers didn’t seem to realise their budgets need to be slashed, not trimmed,” fumed a finance ministry official.

viaThe Greek bail-out: The troika is coming | The Economist.