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Greece, lenders agree on 325 mln euro savings

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16-02-2012 | 11:38

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Greece, lenders agree on 325 mln euro savings

Greece and its international lenders have agreed how to achieve budget cut measures worth 325 million euros for this year, one of the last pieces that needed to fall into place for the debt-laden country to receive a 130-billion euro rescue package, Greek government sources said on Thursday.

"One hundred million euros will come from a cut in the operating expenses of the defense ministry and about 90 million euros by cutting some public sector wages earlier than scheduled," one government source told Reuters on condition of anonymity.

"The remaining 135 million euros will come from additional cuts in the operating expenses of ministries for the interior, health and labor. The labor ministry savings may relate to pension cuts," the government official said. One other government source confirmed the breakdown.

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