Thursday, September 16, 2010

Romania Goes on Austerity Diet


Romania raised the retirement age for men and women and plans health care and welfare cuts as part of a package of measures aimed at lowering public spending, local media reported Thursday.......

Romania's parliament on Wednesday passed changes to the pension law, setting the retirement age for both sexes at 65, an increase of 18 months for men and 5.5 years for women......

Among austerity measures it agreed upon in talks with the IMF, the government promised to lay off more than 70,000 public servants in 2009 and 2010.
See more here