Greece Must Make 3.2 Billion Euros of Cuts in 2012, Ta Nea Says

Greece must cut spending by 3.2 billion euros ($4.2 billion) this year to get approval from the European Union, the European Central Bank and the International Monetary Fund for a new financing package, Ta Nea reported, without saying how it got the information.

The so-called troika and the Greek government have agreed on cuts of about 2.5 billion euros so far; another 700 million euros have still to be determined, the newspaper said.