AMG's Cosmo Vision Center in Athens, Greece.
Greece (MNN) ― Greece is fighting for survival. The country's public deficit has risen to an estimated 13.6 percent of gross domestic product. Short on cash and with few prospects of surviving without it, the government is racing to beat a May 19 deadline to secure funding that avoids a default.
Tasos Ioannidis with AMG International explains, "Greece has been living beyond its means for a long time, so the government debt has reached unsustainable levels."
There are concerns that Greece's crisis could have a domino effect on the countries attached to the Euro. As a result, the European Union and the International Monetary Fund offered a bailout of 120 billion Euros over the next three years...with strings attached.
The bottom line: cut back or there will be no bailout. Ioannidis says, "The government, in order to reduce the deficit, has had to put a lot of measures in place, including additional taxation, cutting spending in the public sector, reducing pensions."
Austere measures are in place to meet lender demands of 25 billion euro spending cuts in the next two years on top of sacrifices already made. The cuts are painful, and hundreds demonstrated their displeasure last Thursday with a march on the finance ministry. Newspapers are reporting a general strike is likely on May 5.
The uncertainty has interfered with AMG's ministry. "The people have less cash to spend because most of it now is going to their basic needs; there is less money available for ministry at the local level."
There are a couple of ways to pray for the ministry of AMG in Greece. Ioannidis says, "First, pray that the Lord would enable our co-workers to have wisdom in knowing how to minister to the people who are hurting, and then pray for the Lord to provide resources."
