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Greece’s Papandreou Pleads With Allies to Back Austerity Effort

Greek Prime Minister George Papandreou called on his allies in parliament to back his austerity plans that aim to stave off the euro region’s first default.

“We must rise to the occasion and realize how dramatic the situation is and work with a united spirit to face the crisis,” Papandreou told lawmakers in Athens today. “Our answer to the storms around us is stability and to continue our course, with our planned changes and targets.”