LATEST ROUND OF AUSTERITY MEASURES IN GREECE WILL LEAD TO SEVERE RECESSION, NEW LEVY ECONOMICS INSTITUTE STUDY SAYS
ANNANDALE-ON-HUDSON, N.Y.— To continue meeting its obligations as part of last year’s Memorandum of Understanding (MOU) with its European Union creditors, the Greek government has agreed to a new round of fiscal austerity measures, including sharp increases in property and income taxes as well as further reductions in pensions and other welfare-related programs. A new …