Greece News
23 Feb 2010
A Greek Tragedy
Greek Prime Minister George Papandreou has said his country needs the support of European governments if it is to cut its debt levels effectively.
But he reiterated that Greece is not looking for a financial bail-out from other European countries.
"Our problem is our problem, our responsibility," he said.
Greece has one of the highest budget deficits in Europe and has vowed to cut its debt levels dramatically over the next three years.
"We have a progressive programme for change and we need support for this programme to make it effectively implemented," Mr Papandreou said.
The prime minister added that Greece was not looking for money from other countries, simply the opportunity "to borrow on the same terms as other countries in the eurozone."
He added that "higher interest rates for Greece mean higher interest rates for the rest of Europe".
Chilling words that no-one with a property in Europe or looking to holiday there wants to hear!