среда, 7 марта 2012 г.

Greek PM:More cutbacks needed for survival

Greek Prime Minister George Papandreou says new austerity measures must be taken for his debt-ridden country's survival, as negotiations on the details of a rescue plan with the International Monetary Fund and the European Union enter the final stretch.

The talks over what extra steps Athens must take as part of the rescue, which will provide euro45 billion this year and up to a reported euro120 billion over several years, are expected to be completed over the weekend.

Speaking in Parliament Friday, Papandreou said economic measures "are necessary for the protection of our country, for our survival, for our future."

Indications that help will soon be approved for Greece has partly calmed markets. Greece's borrowing costs fell for the second day on financial markets.

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