News Exercise #94

1) Complete this section:

1) Complete this section:

A new proposal’s been sent and now the Greek Prime Minister must face his country. The government in Athens will seek Parliament’s approval later to reinforce the message that their offer is serious, but there’s a problem. The reform’s package includes many of the measures the Greek people rejected in last Sunday’s referendum, and this time the cuts are even greater.
The thirteen-page document detailing its new bailout plan include(s): more taxes on businesses, including shipping companies; an increase on VAT for restaurants; cuts in state spending for pensions, and a curb on early retirement; a three-hundred million Euro cut in defense spending by 2016; and the tax breaks for its islands will also be scrapped.
In all, the government hopes to make twelve billion Euros in savings, but in exchange it wants much more from the Eurozone.

2) What does Greece want?
It want fifty-three-and-a-half billion (53,500,000) Euros as part of a third bailout package, and a restructuring of its huge debt burden.

3) How much is the debt?
It is three-hundred-and-twenty billion (320,000,000,000) Euros.

4) According to the man on the street, what is at stake?
He said that their welfare, their well-being and their lives were at stake.

5) What will happen to this proposal now (note that this video was made on Friday the 10th)?
It will be scrutinized by experts in the European Commission, the Central Bank, and the IMF. It will then be considered by Eurozone finance ministers on Saturday, and by EU leaders in Brussels on Sunday.