October 22, 2010
Plagued for years by a bloated bureaucracy, Greece is counting on a radical overhaul of local government that will slash thousands of public-sector jobs, cut red tape and potentially save it €1.5 billion ($2.09 billion) a year, in order to nurse the country back to financial health.
Starting Jan. 1, Greece's Socialist government will implement its long-promised Kallikratis reform—named after one of the two architects of Athens' Parthenon temple—that will abolish two-thirds of the country's remaining 1,000-odd municipalities and dozens of district governments.
The steps will come on top of the most stringent fiscal austerity plans in Europe after Greece's near-insolvency last spring and risk rekindling popular resistance.
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