The Greek government has finally worked out a €3.5B austerity plan needed to get another loan from the ECB/EU/IMF lenders. The Greek parliament approved the austerity plan. The Greek opposing parties also confirmed their loyalty to the approved package of spending cuts.
These are the latest spending changes:
· Defense and healthcare - €100B
· Pensions - €45B
· Retirement insurance - some €30B
· Child benefits for large families – some €40B
· Salaries for servicemen and medical workers - some €90B
· Current public spending - €20
In the meantime, yesterday EURUSD started recovering against the preceding mid-term downswing, which may become either sub-wave 4 / B inside the downward RP workout of H4 or wave C H6/8. According to the SRP Department of , the 2nd variant is more probable.
