Thursday, October 27, 2011
Papandreou to present EU deal to wary Greeks
Greek Prime Minister George Papandreou will present to the nation today an EU deal to lower Greece's debt burden, amid rising frustration with his Socialist government and fears the agreement could spell years of painful belt-tightening.
Papandreou, speaking earlier in Brussels after marathon negotiations to clinch a 50 percent writedown of Greek debt, had hailed the agreement as finally making the debt burden sustainable and spelling a new dawn for his country.
In a bid to soothe concern among Greece's 11-million-strong population, a government spokesman said Papandreou would not unveil any further austerity steps because of the package. The prime minister is due to speak on television at 1700 GMT.
"There will be no new austerity measures based on the agreement that has been signed," Ilias Mosialos told state-owned NET TV.
Papandreou, speaking earlier in Brussels after marathon negotiations to clinch a 50 percent writedown of Greek debt, had hailed the agreement as finally making the debt burden sustainable and spelling a new dawn for his country.
In a bid to soothe concern among Greece's 11-million-strong population, a government spokesman said Papandreou would not unveil any further austerity steps because of the package. The prime minister is due to speak on television at 1700 GMT.
"There will be no new austerity measures based on the agreement that has been signed," Ilias Mosialos told state-owned NET TV.
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