Papandreou Says Greece Doesn’t Need New Austerity Measures
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Greece’s Prime Minister George Papandreou pledged to press ahead with government attempts to ease the threat of default, saying no new austerity measures were needed if the country stayed the fiscal course.
“I have every confidence that at the end of the year we will have reduced, in accordance with our commitments and decisions, the deficit by 40 percent,” Papandreou said in Thessaloniki, northern Greece, today. “As long as we are progressing well, there is no need for any new measures.”