third and finally, with regard to the international monetary fund. the imf should be working to build a firewall, not within the eurozone. not lend more money to the dangerous and counterproductive situations we now see in the eurozone. the europeans run a reserve currency, the euro. they are perfectly capable of sorting out this problem for themselves. they haven't done it yet, i grant you, and they need a lot of encouragement and they're getting that from the executive branch, mr. geithner has been good on this and more encouragement from congress but most important, the imf should focus on protecting other countries. build a firewall outside the eurozone and protect the innocent bystanders. and let them sort it out and help other countries with whom we do a lot of trade that have financial systems intertwined with ours and have them buffs themselves against calamity that might arise in a situation. the imf have taken this up and issued a paper to their membership. it was a secret paper, the details are poorly related. i understand they can't do he

and the international monetary fund. they're all trying to fob off shares of the rescue packages to the others, and preserve their own negotiating position to do so. therefore, none of them wants to say he or she will take care of the whole problem, even though, in fact, they will. so the result is a situation that's very unsatisfactory for the markets. the markets want to hear assurances, and firm words of rescue. those can't be given, even though i'm confident that those rescues will take place. and, therefore, the market situation is likely to remain unsettled and volatile, even though i'm confident that the outcome will be successful in the sense of successful financial engineering to avoid financial breakdown. but that's not getting to the recession and the underlying economic problem which is still there. i want to draw two or three major conclusions for the united states and answer more questions on the european situation per se. first, as you said, mr. chairman, the united states has a huge interest in this situa

for one thing, a lot of calculations coming out of brussels and the international monetary fund are based on the assumption that everything goes right in terms of growth returning. frankly, that's a pretty courageous assumption. even if everything goes right, they are aiming to get the greek government's debt burden down to 120% of gdp, the level of italy currently. it is even regarded too high, even them. >> part of the deal means that greece's economy will be monitored. outsiders will be sitting in in government. some would say that's a modern- day colonialism. >> some are already saying that. it has to be said. when the imf gets involved, it does have a resident representative keeping an eye on how things are going. the degree of intrusion by the eurozone and the imf is unusually high. they're looking at the idea of creating special kinds of accounts which the greek government would not have control over, but which would privatize payments of private creditors. that would be really, absolutely extraordinary. no surprise, really, that there would be a deep resentment of that kind of arr

there's nothing and that's i might's i might be provocative here but that's all it is the international monetary fund. but population decline is one of the toughest problems russia faces in the long term but the disturbing trend can be reversed that's according to the country's prime minister in the latest campaign article and his bid to return as president vladimir putin has put forward plans for social reform that he hopes will significantly improve the demographic situation the proposed measures include better welfare for families with many children and smarter immigration policies including the repass ration of russians living abroad the article titled building justice also focuses on salary hikes for teachers and doctors as well as making housing affordable to everyone by twenty thirty groups and has ramped up his election campaign in light of mass opposition protests and as political analyst dmitri bobbish explains may he is mainly now addressing russia's middle class. my whole is that putin now in the stance that he's electorate right no it's not a reach you know reach c.t. people he's elector

and the international monetary fund to avert a default would be the second such cash handout and no details have been revealed yet but the public have already started to voice their anger let's discuss this now with. me this he's a journalist in athens now the previous round of cuts led to huge rest in greece we are learning that the unions are now threatening a forty eight hour strike and indeed one union leader saying expect social uprising so we're going to see violence once again then are we in athens. good evening from athens i can really hardly hear you because at that moment the main body of that demonstration. from the hotel where we are. now and it's extremely difficult to listen to you but i have to tell you that increase their protest or spend a majority of people i'm not sure about peace agreement because maybe their main three leaders are greek about these measures but the thing is that. a lot of people in greece for their leadership of those three parties of the coalition they already call them employees whole thing international monetary fund sure. if somebody has to celebrat

after 13 hours of talks the deal was announced by international monetary fund. european central bank and european commission. they were all smiles as they left. but for it to work, private investors have to be onboard. they're paying for t hedge funds and other greek and foreign banks are expected to take 53.5% losses. about $140 billion writeoff and deep are cuts were just agreed to a few months ago. they have to be convinced to go with the debt swap where greek bonds pay less for longer. it brings the debt to gdp ratio to just over 120% by 2020. a minimum target. the current ratio is 164%. the united states, just over 100%. the big question is where greece deliver on the promises made. tough measures could be needed. >> the greeks, it does not appear, like the austerity measures very much. >> no, you're right. riots in the streets, massive strikes, the public doesn't like the cuts. on top of this, parliamentary election ins april. before the ink was dry there was talk of renegotiations. one other thing, they're essentially under 24-hour surveillance from europe

you jean international monetary fund. population decline one of the toughest problems facing russia in the long term but the disturbing trend can be reversed according to the country's prime minister is the latest campaign article in a bid to return as president vladimir putin has put forward plans for social reforms he hopes will significantly improve the demographic situation the proposed measures include better welfare for families with many children smarter immigration policies including the repatriation of russians abroad the article titled building justice also focuses on salary hikes for teachers as well as making housing affordable to everyone by twenty thirty putin's wrapped up his election campaign in the light of mass opposition protests as political analyst dimitri bad as he explains now mainly addressing russia's middle class my whole is that putin on the stance that he's a doctorate right now it's not reach you know reach c.t. people he's an entrant these are the real russian middle class you know people who

greece needs more money from the eu and the international monetary fund to cover government bond payments worth 14.5 billion euro. the payments are due march 20th. >>> that's all for this edition of "newsline." i'm catherine kobayashi in tokyo. do stay with us.

it also qualifies greece for billions of dollars from the european union and international monetary fund. as the financially struggling country tries to avoid bankruptcy. >>> right now, crews are working to empty funds of fuel from the -- tons of fuel from the luxury liner still aground off the coast of italy. a memorial service is planned today to mark the one month anniversary of the tragedy. at least 17 people were killed and 15 are still missing. the ship's captain remains under house arrest. he has been charged with several counts of manslaughter and abandoning the ship. >>> coming up next, howard has the forecast. >> reporter: nice out here. it is warming up. one of the coldest mornings of the season. just want to take to you break with a look at the temperatures across the region. some areas still reporting upper 30s. 43 in sterling. 44 in springfield. 42 in columbia. talking about a system for tonight, tomorrow and again on thursday, i'll have details when 9news now at noon returns. >>> here are some of our favorite discounts. this one is for you shutter wogs out there. groupon f

. >>> former head of the int international monetary fund is at the center of a new sex scandal. >>> the dow soars to levels we haven't seen in years. what it may say about our economy. >>> crowds haven't been this big since hurricane katrina. >>> how about our weather? >> weather looking pretty good out there right now. the sun made its way out earlier, temperature reached 50 degrees today, that is nothing compared to where we're going to be in a couple days. >>> the nationals get things started in spring training. the wizards finishing up their road trip on a sour neat. the caps are reeling the word is swapportunity. can i have the definition? swapportunity: the opportunity to swap a higher calorie snack for a yoplait light. can you use it in a sentence? mmm. swapping a 300 calorie donut for this 110 calorie strawberry shortcake is a good swapportunity. that's not a real word. oh haha it's real. [ female announcer ] delicious, creamy, yoplait light. over 30 flavors each around 100 calories. do the swap today. >>> hundreds of afghanis protested in afghanistan today over reports that cop

we have a monitoring process that has been sent up with the international monetary fund, the european central bank and the european commission. this monitoring process is adjusted every time but now we are talking about private sector involvement, about the second bailout. i am confident that markets will believe us and markets will react to us and that will mean that greece has a chance with this bailout to overcome the crisis. >> month by month, you are going to have to prove that you are on track to deliver this but you have an election in april. you might get to april and find that you actually can not deliver this because there is not enough money in the streets. people cannot even make their bank payments. it's just physically might not work. next don't know when the election would be. there are rumors about april. the whole point of this is to enable the state function and pay at salaries. the scenario that you just described is exactly what we're trying to avoid through this assistance we are receiving from our partners. >> you need to get that signed off very very quickly, do

the scandal cost him his job heading up the international monetary fund.in france are investigating a suspected prostitution ring that's already implicated police and some officials. prostitutes told police they had sex with dominic strauss-khan over a 2 year period at luxury hotel in paris. restaurant in french capital and in washington, d.c. the claim is of orgies that he attended. the republic presidential candidates getting ready to face off in their first debate in weeks. just ahead, we will see where they stand now in the polls and how that could effect their strategies for tomorrow's showdown. and what happens if none of the candidates locks up enough support to actually win the nomination? what if none of these gets 50%? well then, in theory, we get something called a brokered convention which hasn't happened since, the 1940s. so how might such a thing work? we'll get to that on this fat tuesday fox report. it's approaching the bottom of the hour and news. next.es not nearly as complicated as shipping it though. i mean shipping is a hassle. not wit

the plan, greece will receive $170 billion this rescue loans by the european union and international monetary fund second life raft from the agencies designed to help greece avoid default. greek citizens will feel the blow. 150,000 public sector jobs will be lost. cuts to the minimum wage by a fifth and a reduction in pensions. some wonder if it is too high of a price to pay. francis co, nbc news. >>> after much delay, due to weather, crews today began to pump fuel from the grounded cruise ship off the italian coast. calmer water allowed cleanup operations to get going in full force today. the goal is to pump a half million gallons of fuel from that wreck. >> we will continue with the pumping 24 hours a day. as i said before, things are looking very good. >> the weather forecast shows a good week of weather ahead. so crews are hoping to work around the clock. >>> still to come at 11:00, we are less than a week away from the bay bridge closure. now it might be delayed. we'll explain what's going on there. >>> the science behind the songs that make you cry. we will show you what researchers are sayi

guest: you are an adviser to the international monetary fund.the co-founder and chairman of an economic advisory firm. you have been involved in presidential politics, as well as advising presidential candidates and devising men who have held the oval office about economic issues. how responsive right now is the obama administration towards what is happening in europe? we did not see a lot in the paper. we did see treasury secretary geithner go over to europe. it is not the top issue we're hearing about in, say, the state of the union, or briefings from the white house. guest: it is not a large, public issue. it is an issue that has upsethad the very close attention of the white house for at least the last year and a half. the reason is because the debt crisis in europe, the financial problems in europe are potentially more serious than our own financial crisis in 2008. here you know, a crisis in sovereign debt goes directly to the coure of the entire banking system. ask yourself, who owns government bonds? banks, mainly. financial institutions

a former head of the international monetary fund, dominique strauss-kahn, is facing questioned by police after he and alleged prostitution ring. he is accused of having sex with prostitutes organized in paris and washington. he resigned in may of last year after being accused of assaulting a maid at a hotel in new york. he denied the accusation and the charge was dropped. our correspondent in paris gave us the background into the investigation. >> it is named after a hotel where sex parties, orgies were organized to which mr. strauss- kahn was invited. there were a number of sects w -- sex workers who had sex with him. he does not dispute that. he said they did not know -- he did not know they were prostitutes. it is not illegal in france to sleep of prostitutes but it is illegal to supply them. it is alleged that strauss-kahn took his own whim in to these parties. it is also alleged they were paid for out of corporate funds from a large construction company. it is also easily go for a public official to receive gifts of any kind, including sex -- illegal for a public official to receive

debt down to $120 -- 120.5% of gross domestic product by 2020, around the maximum that the international monetary fund and the eurozone considers sustainable. and under the terms of the deal, officials also agreed to reduce the interest they charge greece for the long-term loans. >>> the greek debt deal is good news for u.s. stock markets. right now the dow is on track to open above the 13,000 mark. u.s. futures are also up. but the news isn't doing much for the european stock markets. the ftse and dax have dropped since the markets opened. meanwhile, asian stock markets ended mixed today. >>> a week before michigan voters head to the polls, virginia governor bob mcdonnell is visiting the state to promote the candidate he endorsed, former governor mitt romney. mcdonnell spoke at the kent county republican committee, lincoln day dinner in grand rapids yesterday. he praised romney's ability to create jobs as a ceo at bing capital and highlighted romney's charitable giving. mcdonnell has campaigned for romney in south carolina, florida, and virginia, and is considered a front-runner for vice president. >

also likely on the agenda, how to respond to request by the international monetary fund. imf is calling on members to invest financial contributions by $500 billion in case europe's credit crisis worsens. the officials will likely consider establishing a lending system among 13 asian countries, including china, south korea, and japan, using their foreign exchange reserves. that's in a bid to prevent europe's debt problems from spreading further to asia. these concerns are more immediate in europe. the ruling coalition parties in greece failed to agree on an austerity plan, a precondition for additional aid from the eu. a large number of greek government bonds will mature next month. a default seems inevitable unless they receive more aid from the european union. the prime minister was scheduled to meet with the leaders of the coalition parties to discuss whether to accept the conditions. however, the meeting has been postponed to tuesday. labor unions plan to strike and stage protests on wage cuts that are included in the austerity plan. meanwhile, french president nicola

the country could face a default in march without a bailout from the eu and international monetary fund. on tuesday, the government presented a final plan to the ruling coalition parties. the two sides were to discuss budget cuts and fiscal reform. but the meeting was rescheduled for a second day in a row until wednesday. the proposal includes cuts and fiscal spending pension as well as minimum wage. greece and the european union have not been able to narrow their defenses. the eu is said to have called for spending cuts while the greek ruling parties have agreed to only a 1.5% reduction so far. tension is mounting in the country as labor unions continue to stage strikes to protest the proposed austerity measures. european commission president manuel baroso has urged greece to accept conditions for the bailout package. baroso said all is focusing on greece. >> it is very important not only for greece but the euro to keep greece in euro. for that we are urging the political parties in greece to make a commitment to the common goals. i think it's very important for them. >> and on the tok

tonight on c-span, from this year's world economic forum in davos, switzerland, see the international monetary fund along with other global leaders as they talk about the future of the world economy. >> no one is immune in the current situation. it's a crisis that could have collateral effect, spillover effects around the world and, you know, we'll hear from others but what i have seen and what we are seeing in numbers and it forecast is that no country is immune and everybody has an try interest in making sure this crisis is resolved adequately. >> let me share with you, i have never been as scared as now about the world. what is happening in europe, looking at what i experienced in -- not in '80 the crisis we had and the crisis we had in the 1990s. this is a very big issue. first of all, i agree entirely with christine that nobody is immune. we are all connected to each other. >> you can see the whole discussion tonight at 8:00 p.m. on c-span. we'll have more from the world economic forum tomorrow including a panel on the political and economic future of africa. plus, the ceos of several major co

is there any specific role for the international monetary fund in coming back into the picture as it did at the out set of the crisis to help support the resumption of stability? this is a moment where the german chancellor has for two months very constructively asked me what can we do more for you. and maybe this will also be the question by president obama. in fact, it did come up in the meetings this morning with the congressional leadership. i think italy is not in a state where it needs financial supp t support. but it needs better governance, and it wants to contribute to better governance. this has largely to be achieved within europe. for example, i think we came to a deep common understanding with germany that anything which would improve the perceptions by the markets that the eurozone is well governed, in terms of readiness to put up adequate fire walls will actually imply a very small probability that such financial resources would have to be used because they will be credible enough for the mere fact that they are there. with the u.s., i think this would be the topic of

also likely on the agenda, how to respond to request by the international monetary fund. imf is calling on members to invest financial contributions by $500 billion in case europe's credit crisis worsens. the officials will likely consider establishing a lending system among 13 asian countries, including china, south korea, and japan, using their foreign exchange reserves. that's in a bid to prevent europe's debt problems from spreading further to asia. these concerns are more immediate in europe. the ruling coalition parties in greece failed to agree on an austerity plan, a precondition for additional aid from the eu. a large number of greek government bonds will mature next month. a default seems inevitable unless they receive more aid from the european union. they were scheduled to meet monday to discuss whether to accept conditions. however, the meeting has been postponed to tuesday. labor unions plan to strike and stage protests on wage cuts that are included in the austerity plan. meanwhile, french president nicolas sarkozy and the german chancellor stressed urgency

europeans want a clear sign from the international monetary fund as well regarding the question -- has greece complied with all actions needed in order for the funds to be released? >> there is a long list of things that brussels still wants. can even begin to expect a concrete agreement tonight? >> tonight is definitely an important step, but we are not expecting a concrete deal. the greek parliament has not even vote on the deal yet. that is expected to be happening on sunday. the question is -- are there enough private creditors who are willing to commit to the restructuring? the role of the european central bank is unclear, so there are a lot of things for the finance ministers to discuss, but we will not know tonight whether or not raese can stay in the eurozone. >> feels like we have been here before many times. thank you very much. >> to syria now. reports of a bloodbath in the besieged city of homs. >> activists say at least 110 civilians have died today, the six day of a massive offensive by the president's military. >> heavy shells are again falling on homs. the city of 1 mil

g-20 say europe must do more to fight its financial crisis before the ball back another international monetary fundn more european reforms. in response leaders plan to meet in brussels to discuss what they will do next. >>darya: american airlines is running out of time to make changes in airline contracts. the carrier filed for chapter 11 in november. they're trying to cut 13,000 jobs in order to trim 2 billion in costs. union workers said they should be offered buyouts but the company rejected the idea. a decision is needed in a matter of weeks. >>mark: when we come back the ringing of the opening bell on wall street. zahara and >>james: you can see people of flooding as we anticipate there ringing of the bell for the opening of the new york stock exchange. >>james: at this point futures are pointed-. you can hear the bell now that trading has begun. >>darya: wesley shermantine had revealed more locations where he says additional victims are buried in northern california. that is something that authorities will be investigating today after looking at the first place where they found more than 1000

asked china to hope boost the financial base of the european financial stability and the international monetary fund. china expressed willingness to continue talks with terks. this is because china's exports have been falling and the economy is slowing down due to the debt problems in the euro zone, is largest trade partner for china. >> translator: china is preparing to support the european union. we will cooperate with them and hold dialogue. >> we welcome the positive attitude and engagement china and premier have taken publicly towards the stability of the euro zone and the european union. >> china's believed likely to continue discussing cautiously when and how it can support the eu in view of the strong opposition back in the country against providing support for europe. japan central bank has decided to step up monetary easing to boost the economy. the decision comes after the country gdp shrank in october-december period due to europe's credit problems and the strong yen. the bank of japan made the announcement after a two-day policy meeting that ended on tuesday. the bank says that japan's

the ministers also confirm they'll cooperate over a request by the international monetary fund to provide more money to deal with the european debt problems. the ministers said their countries are ready to support the imf, but the european union should make further efforts to stabilize its economy. >> translator: ensuring a stable monetary supply is essential for asian countries to achieve economic growth and prevent the european crisis from spreading to asia. the chinese vice premier and i agreed on the need for asian countries to help each other. >>> and now, let's look at what's on the global business calendar this week. first up on monday, eurozone finance ministers are getting together in brussels again. they'll consider the austerity package greece prepared to receive eu and imf bailout funds. on wednesday, existing u.s. home sales for january will be out. sales in december rose for a third consecutive month, and new u.s. home sales numbers will be out on friday. these housing data will give us a better idea how the struggling u.s. housing market is doing. finally on saturday, a two

tonight on c-span, from this year's world economic forum, see the heads of the world bank and international monetary fund along with other global leaders as they talk about the future of the world economy. >> no one is immune in the current situation. it's not just a eurozone crisis. it's a crisis that could have collateral effects, spillover effects around the world. and you know, we'll hear from others, but what i have seen and what we have seen in numbers and in forecasts is that no country is immune and everybody has an interest in making sure that this crisis is resolved adequately. >> i have been in public service most of it involved in public finance for over four decades. let me share with you, i've never been as scared

his austere measures won him the praise of the international monetary fund and the european union, but not of his own people, so were many as new head of government is off to a tricky start, but all he needs to do is to unlock hard cash from the e you instead of mere praise and make sure that the money reaches the people who need it. >> life is pretty good for barney christoph. he gets along well with his parents, and he does not have a long walk to school. it is located in his home town. he is lucky. many romanians schools have been closed down. but there are some things about barney's school that he does not like. it is pretty run down, and above all, it is much too small. without enough classrooms, the children have to go to school in two shifts. this week, barney's class starts school in the afternoon. >> it is hard for the children to come one week in the morning and one week in the afternoon. they are distracted and tired. it affects me as a teacher as well. everything gets all mixed up. >> the school principal wants to expand the school, adding 10 new classrooms. the european un

the country could go into default if they don't get funding from the european union and international monetary fund. >>> moving to markets, the dow surged higher friday to prelehman collapse levels following jobs data. see how the stocks are kicking off in tokyo. ramin mellegard is at the tokyo stock exchange. good morning. what can you tell us. >> good morning to you. the dow had the highest close since may, 2008 after the surprisingly strong jobs data friday in the u.s. and nasdaq hitting an 11 year high as well. it could be good for exporters and financials. the banking sectors one of the biggest gainers friday. let's look at the opening levels this monday morning here in japan. the nikkei well up over 100 points in the first few minutes of trading as you see, topix up 10 points. stocks in japan have been trading on positive sentiment out of the u.s. economy so far, but a couple of factors may hold back some momentum. one, the continuing concerns as you mention about greece and weaker eurozone countries, and also some earnings that we have had out of japan, especially if you look at the outlook

and the international monetary fund the european central bank and european union are imposing on but if for countries greece italy spain portugal it's economics one o one is very simple to understand that i mean if these countries are. with problems and you force the to cut public spending well you push them deep into recession and even to your you pretended objective which is to reduce public deficit where you don't reach that goal because the. income of the of the public administration is reduced because the whole country got goes into big recession we have seen that in greece how every year the economy goes worse and we are seeing that in spain and we experiment that in spain more and more thank you very much for joining us. we all make choices. sometimes it's tough. but it can be an easy call. the. choice can be left to fate. boy it can be. limited. we can comb. shows and. it's always personal. except one day. when choice matters to everyone. wealthy british style. that's not on the title of. markets why not. come to. find out what's really happening to the global economy with my

the country could face a default in march, without a bailout from the eu and international monetary fund. on tuesday, the government presented a final plan to the ruling coalition parties. the two sides were to discuss budget cuts and fiscal reform, but the meeting was scheduled, rescheduled for a second day in a row until wednesday. the proposal includes cuts in fiscal spending, pension as well as minimum wage. greece and the european union have not been able to narrow their differences. the eu called for spending cuts worth 2% of gdp, while greek ruling parties agreed only to 1.5% reduction so far. tension is mounting as labor unions continue to stage strikes to protest the austerity measures. greece has been urged to accept conditions for the bailout package and said all of europe is now focusing on greece. >> translator: it is important not only for greece but for the euro and european project to keep greece in europe. for that, we are urging the political parties in greece to make a commitment to the common goals. i think it's very important for them. >> all right. let's check the m

under pressure from brussels berlin and the international monetary fund the greek government has cut more jobs to slash funding for the nation's pensions a minimum wage but current policy appears to mainly expose those most vulnerable to crisis conditions it's a mindset some feel is doomed to fail and they already have destroyed the whole generation of young people and their dreams they will destroy the structure of the sabian the infrastructure of the whole country we know that it is impossible to repay this debt that we have now signs that these illegal or old those bad we cannot continue like that because the ball is in the big government is following actually increases the day yeah instead of finding a solution at the heart of activists claims is there are certain that they've noticed there. he for the best part of five years now and the time taxes have risen incomes have full of the country's deficit only seems to grow. by an increasing number despite that the governor warns will follow. even more. that. is that the default is going to be very tough for us but there's going to be

. >> tonight, see the heads of the world bank and international monetary fund along with other global leaders as they talk about the future of the world economy. >> no one is immune in the current situation, it's not just a euro zone crisis, it's a crisis that could have collateral effects, spillover effects around the world. and we'll hear from others, but what i have seen and what we have seen in numbers and it forecast is that no country is immune and every country has an interest in making sure this crisis is resolved quickly. >> i have been public service for over four decades. let me share with you, i have never been as scared as now about the world, what is happening in europe, looking at fact -- what the experience is with the crisis we have. and the crisis we had in the 1990s, this is very big issue. first of all, i agree entirely with richard's letter, that nobody is immune, we are all connected to each other. >> and you can see this whole discussion tonight at 8:00 p.m. eastern on cspan. and we'll have more from the world economic forum tomorrow, including the panel on the

they have told generally about investing through the international monetary fund. the chinese have also talked about investing in infrastructure. we saw one of the chinese sovereign wealth funds bought stakes in a company in london. china is sensitive about criticism in europe, accusing it of buying europe up. it is also sensitive about criticism closer to home. china's leaders don't want to be seen bailing out countries that, relatively speaking, are ok on the rhone. is notco's war on drugs working. >> the government launched a war against drug cartels. results have been catastrophic. it is an election year. security is the biggest concern. our correspondent has more. >> the mexican army has been fighting for five years. the mexican people are paying the price. 50,000 have been killed in the government's war against the cartels. many mexicans are asking if the prices too high. -- price is too high. watfch this. since pressing calderon launched his assault on the gains, numbers have spiked dramatically. from traditional trouble spots around the country, it increases

under pressure from brussels berlin and the international monetary fund the greek government has cut more jobs and slashed funding for the nation's pensions a minimum wage but current policy appears to mainly expose those most vulnerable to crisis conditions is a mindset some feel is doomed to fail we already have destroyed the whole generation of young people in their dreams they will destroy. the sabian infrastructure of the whole country we know that it is impossible to read a piece there that we have now signs that these illegal or old rules we cannot continue like that because the policy that the government is following actually increases they did instead of finding the solution at the heart of activists claims is their search and that they've known as their. he for the best part of five years now and the time taxes have risen incomes have fallen but the country's deficit only seems to grow and in this austerity cycle is something sought by an increasing number despite the turmoil the governor wallace will follow but what is about our political system is the work of the right ex

political leaders finally accepted a new austerity plan, demanded by the european union and the international monetary fund that requires ferocious spending cuts and tens of thousands of more job losses. european ministers say they want more evidence it will be implemented. we have this report from athens. >> relief among politicians a deal is done, but on the streets, the protests have begun. thousands have turned out in the depth of winter to vent their anger at the new wave of cuts needed to qualify for much- needed bailout funds. the unions have called a 48 hour strike. greeks are tired of punishing austerity. >> the new measures that have been agreed upon between the coalition government and the eurozone will apply to workers and society. they're demanding greek society that will reach the level of the third world country for worker'' rights. at the same time, benefits have been given to bankers and large businesses. >> good deal on the cuts was reached after days of talks and missed deadlines. they agreed on a 22% reduction of the minimum wage. it 30,000 civil servants will be laid off, and there is