Greek PM to announce economic crisis plan
Athens: Greece`s new government readied plans on Monday to slash deficits and boost confidence in the country`s
shaky finances by cutting bloated public payrolls and going
after rampant tax evasion.
Greeks concerned about how spending cuts would affect
them were awaiting a speech by Prime Minister George
Papandreou outlining the government`s efforts.
European Union officials have warned that Greece must
deal with its problems itself and not expect a bailout.
A delegation from Moody`s credit rating agency was in
Athens to review the economic situation, which has seen the
country`s projected deficit swell to more than 12 percent of
economic output this year.
That is four times the limit imposed European Union as a
condition of using the euro currency, and twice the previous
The country`s debt has soared to a staggering euro300
billion (USD 442 billion).
Moody`s put Greece`s government credit rating under
review for possible downgrade in late October, and a verdict
is expected by early next year at the latest.
More from India
More from World
More from Sports
More from Entertaiment
- IAF Mirage fighter plane lands on Yamuna Expressway!
- 'Maggi' under regulatory scanner for excess amount of lead, MSG
- Watch: Michelle Obama's 'Gimme Five' fitness video
- When Subramanian Swamy shocked people at a wedding!
- Mumbaikars join hands to save Pakistani teen with rare illness
- Mumbai: Diamond export company denies job to Muslim youth
- Aapke Sitare: Astro prediction for May 21, 2015
- Mirage 2000 fighter jet landing was part of capability demonstration: IAF
- DNA: IAF Mirage 2000 fighter plane lands successfully on Yamuna expressway
- PM Modi speaks at Golden Jubilee celebrations of poet Dinkar’s works
- DNA: Osama documents show 'Indian brother in Madinah' financed al Qaeda
- ISIS executes Syrian fighter using anti-tank rocket launcher
- PM Modi's key campaign team member may join Nitish Kumar
- Woman robbed at gunpoint inside Hyderabad ATM
- Coal scam: Naveen Jindal, Madhu Koda and others get bail
- RBSE (rajresults.nic.in) Class 12th science and commerce results 2015: Rajasthan Board Class 12th XII exam results 2015 to be announced today at 4 PM
- CBSE Class 10 Results 2015 to be announced today?
- IAF jet lands on Yamuna expressway
- Check Jharkhand Board jac.nic.in: Class 12th Art Results 2015 declared
- Log on to apeamcet.org AP EAMCET Results 2015: Andhra Pradesh EAMCET Marks and AP EAMCET Ranks 2015 declared
- Fawad Khan doesn’t want intimate scenes with Sonam Kapoor?
- We hire only non-Muslim candidates, diamond export firm tells Muslim youth
- Is MSG in 'Maggi' noodles harmful for you?
- Mumbai firm booked for denying Muslim MBA graduate job on religious grounds, probe ordered
- New IPL rules could see Chennai Super Kings lose MS Dhoni
- 'IAS officer DK Ravi possibly committed suicide, suffered big loss in real estate business'
- Jayalalithaa makes public appearance, meets Governor: As it happened
- SSLC (tnresults.nic.in) Tenth 10th Results 2015: Tamil Nadu Board Class 10th X Higher Secondary exam results 2015 to be announced today at 10 am
- SSLC (tnresults.nic.in) Tenth 10th Results 2015: Tamil Nadu Board Class 10th X Higher Secondary exam results 2015 to be announced shortly
- `Piku` hits jackpot, does Rs 100 crore business worldwide