Friday, March 5, 2010

PM cites 'tough, necessary' austerity measures

Μinister George Papandreou left open the prospect of Greece seeking recourse to the International Monetary Fund (IMF) if the country is not financially backed by the EU, speaking after a lengthy Cabinet meeting on Wednesday morning during which additional measures to slash the double-digit budget deficit were approved.

Speaking during the Cabinet meeting, Papandreou told his ministers that the emphasis is now shifting to what the EU will now do.

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