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MORE CUTS Greek Cabinet OK’s Austerity Plan Louisa Gouliamaki, AFP / Getty Images

Greek Cabinet OK’s Austerity Plan

The Greek cabinet announced further austerity measures as it negotiates a €130 billion rescue with its euro-zone partners. While the new austerity package has been expected for several days, uncertainties about Greece’s ability to rein in its debt remain, and officials have cautioned that a final bailout deal in the coming week is anything but guaranteed. Negotiations have been tense, with tempers flaring last week as Greece’s president responded to perceived slights from German officials.

February 18, 2012 9:39 PM