VOICED: Debt-wracked Greece plans painful austerity plan

The video discusses the protests in Athens against public spending cuts introduced by Greek Prime Minister George Papandreou to address the country's €300 billion debt. The proposed budget includes a 10% cut in civil servant benefits, which is met with resistance. Economists predict a period of austerity and stabilization, but with Greece's debt and deficit levels, spending cuts alone may not suffice. The government plans fiscal reforms, including a 90% tax on bankers' bonuses, but ordinary Greeks fear higher indirect taxes. The new government, which took power in October, faces the challenge of convincing European partners of its economic plans.

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