Sunday, 2 May 2010

Greece agrees financial rescue deal

Greece has reached agreement with the IMF and European Union on a rescue package for the debt-laden country, prime minister George Papandreou said.

His government is set to announce harsh spending cuts through 2012 as part of the loan agreement worth some 120 billion euros (£104 billion).

Greeks would be called upon to make "great sacrifices" to avoid catastrophe, Mr Papandreou said in a live televised address. More....


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