May 10, 2010
A hard life is about to get harder for Manolis Fylaktidis.
Greece's cash-strapped government is cutting the schoolteacher's $27,300 salary by about $5,300 as part of a dramatic austerity move the prime minister says is needed to pay the country's ballooning debt. "It is difficult now. ... We have to change our life because life is too expensive," Fylaktidis says.
Even as the 44-year-old teacher's salary falls, the government is raising the value-added tax on most purchases for the second time in as many months, to 23%, and increasing electricity and water charges. "We don't go out very often. We don't buy clothes," says his wife, Sevi, 33, a part-time teacher who has not worked in more than a year.
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