video transcript

ROUGH CUT (NO REPORTER NARRATION) STORY: Troika officials - inspectors from the European Union, International Monetary Fund and European Central Bank met with Greek Finance Minister Yannis Stournaras on Sunday to review a plan by the Greek government to cut nearly 12 billion euros from its budget as part of ongoing reforms to shrink Greece's debt and bring the country back to economic recovery. The cuts, slated for 2013 and 2014, include further reductions to wages and pensions in the public sector. Wages and pensions have already been slashed in austerity programs introduced since 2010, which have angered unions and the public suffering from austerity fatigue and a dwindling standard of living. The austerity measures have deepened a five year recession, shutting down thousands of businesses and causing the unemployment rate to skyrocket to 24 percent.