Austerity package prompts Bank of Greece directors to quit


More than a third of the Bank of Greece's senior management have walked out following the decision of the country's parliament to pass another austerity package.

A total of 45 employees have left, including seven of the central bank's directors, many of whom are taking early retirement as the latest round of spending cuts will impose wage caps on public sector staff and shrink pensions in the future. The cap is believed to be around €5,000 ($6,375) a month before tax, but a source close to the B

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