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Greek PM: Support on austerity measures

06-20-2011 11:11 BJT

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As euro zone finance ministers discuss extending aid to Greece, the country's Prime Minister, George Papandreou, is asking Greeks to support austerity steps and avoid a catastrophic default.

Addressing the Greek parliament, the prime minister appealed for the nation to accept deeply unpopular tax hikes, spending cuts and privatization plans, conditions for the aid package. He warned, the consequences of a violent bankruptcy or exit from the euro would be immediately catastrophic for households, banks and Greece's credibility.

Greek officials have pointed out the nation will face default in mid-July, if the EU and the IMF do not release a 12 billion euro tranche of emergency loans by then.

Editor:Shi Jierui |Source: CNTV.CN

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