Bailouts, Austerity Package | featured news

Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.

Greeks expressed their misery on Monday at the erosion of their daily lives by austerity measures demanded by international lenders in exchange for bailout funds, ahead of a key parliamentary vote on extra property tax.

The budget plan for 2011 is aimed at reassuring nervous lenders that the country can avoid a bailout by meeting its deficit-cutting targets.