The sum total of austerity measures required to achieve this adjustment exceeded €49bn (£41bn), or 22.6% of Greece's GDP, in just two years!
It will include €1.6bn of spending cuts, he says (out of the €2.5bn total of austerity measures) He defends the deep cutbacks and tax rises of the last few years, saying there was no choice.
"This Christmas, some of us might be feeling particularly generous," he said, an observation that was met with near total silence: austerity is clearly getting to their lordships as well as the rest of us.
At the same time, the Centre for Welfare Reform estimated that, compared with the average, people with disabilities would be hit nine times harder by austerity; the total hit for those with severe disabilities would be 19 times greater.
"It was received extremely well by the average person on the street, but not so well by my colleagues," said Mr. Mitsotakis, a Harvard-educated former venture capitalist who is clearly positioning himself as the "new" New Democracy, not least because he has criticized his party's near total opposition to the austerity measures.
Some MPs said yesterday that a huge amount of "self-imposed austerity" would see the total expenses bill fall to the lowest level of any modern parliament.
The Greek prime minister, Alexis Tsipras, has submitted proposals for a harsh new round of austerity measures totalling €13bn (£9.35bn) in an attempt to break the deadlock over its bailout and is now seeking the backing of parliament in Athens.
Greek officials said the government had agreed to austerity measures totaling 24 billion euros (about $32 billion) that would include cutting some workers' pay and some public sector jobs as well as opening up parts of the economy.
ATHENS — Racing to secure financial aid and avoid a debt default, the Greek government has agreed to austerity measures totaling 24 billion euros (about $32 billion) that will include cutting some workers' pay and some public sector jobs as well as opening up parts of the economy, Greek officials said Friday.
Leader of the Labour-run authority Chris Read said: "Faced with a fifth consecutive year of savings as part of the government's programme of austerity, now totalling £116.9m since 2010, the council was faced with making some difficult decisions in agreeing its budget for 2015-16.
