Monday 15 February 2010

Greece refuses EU austerity measures demand

The Times
"The Greek Government looked set on a collision course with the European Commission today as its finance minister denied demands that it needed to take further austerity measures to cut its debt.Hours ahead of a two-day meeting of eurozone finance ministers in Brussels, being held to scrutinise Greece's existing plan to cut is deficit, Olli Rehn, the new EU Commissioner for Economic and Monetary Affairs said: "Our view is that risks... are materialising, and therefore there is a clear case for additional measures.”But George Papaconstantinou, the country’s Finance Minister, said the EU needed to show more support to Greece instead of expecting more detailed austerity measures."

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