• Budget designed to end crisis
  • 64% of budget is social spending
  • pensions, grants and interest costs rise
  • Cabinet has approved budget
  • Revenue targets for 2012 will be met
  • Government to adopt measures to limit early retirement
  • To create independent fiscal body
  • 43 new laws to bolster economy
  • Plan is to meet pledges to EU partners
  • Approves wage bargaining decree; decree to break deadlocks
  • To tap pension reserve for EUR 3 bln to cover liabilities