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| Version 2 | Version 3 |
|---|---|
| Greece 'must do more on deficit' | Greece 'must do more on deficit' |
| (10 minutes later) | |
| Greece must to do more to reduce its budget deficit, the visiting European Union (EU) Commissioner for Economic and Monetary Affairs has said. | Greece must to do more to reduce its budget deficit, the visiting European Union (EU) Commissioner for Economic and Monetary Affairs has said. |
| "I am asking the Greek government to announce new measures in the coming days," said Olli Rehn after a meeting with the Greek finance minister. | "I am asking the Greek government to announce new measures in the coming days," said Olli Rehn after a meeting with the Greek finance minister. |
| Greece is moving ahead with efforts to trim its vast budget deficit, as it struggles to sort out its finances. | Greece is moving ahead with efforts to trim its vast budget deficit, as it struggles to sort out its finances. |
| The Greek government said it would take extra measures "if necessary". | The Greek government said it would take extra measures "if necessary". |
| "The government will do whatever it takes [to cut the deficit]," said Finance Minister George Papaconstantinou. | "The government will do whatever it takes [to cut the deficit]," said Finance Minister George Papaconstantinou. |
| Over the weeks ahead Greece must find billions to service its deficit Gavin Hewitt, BBC Europe Editor Read Gavin Hewitt's blog | |
| The euro, which has recently fallen as a result of concerns about Greece, was up slightly against the dollar following Mr Rehn's comments. It gained 0.15%, or 0.00210 cents, to $1.35930. | The euro, which has recently fallen as a result of concerns about Greece, was up slightly against the dollar following Mr Rehn's comments. It gained 0.15%, or 0.00210 cents, to $1.35930. |
| The EU has asked Greece to report on 16 March on how its budget cuts are progressing, warning that it may force the government to carry out more extensive cuts if those already in place are not shown to be working fast enough. | The EU has asked Greece to report on 16 March on how its budget cuts are progressing, warning that it may force the government to carry out more extensive cuts if those already in place are not shown to be working fast enough. |
| German support? | German support? |
| Mr Rehn's visit comes after reports suggested German banks might help Greece by buying more Greek government bonds. | Mr Rehn's visit comes after reports suggested German banks might help Greece by buying more Greek government bonds. |
| However, German chancellor Angela Merkel said again on Sunday that Greece had to sort out its own problems. | However, German chancellor Angela Merkel said again on Sunday that Greece had to sort out its own problems. |
| "We have a contract which rules out the possibility of bailing out other nations," said Ms Merkel. | "We have a contract which rules out the possibility of bailing out other nations," said Ms Merkel. |
| She did not comment on the bond purchase issue. | She did not comment on the bond purchase issue. |
| Greece's Prime Minister George Papandreou is now due to visit Ms Merkel in Berlin on Friday, in what could be a key meeting to decide what, if any, Europe-wide assistance Greece receives. | Greece's Prime Minister George Papandreou is now due to visit Ms Merkel in Berlin on Friday, in what could be a key meeting to decide what, if any, Europe-wide assistance Greece receives. |
| Pay freezes | Pay freezes |
| Greece has pledged to reduce its deficit from 12.7% - more than four times eurozone rules - to 8.7% during 2010. | Greece has pledged to reduce its deficit from 12.7% - more than four times eurozone rules - to 8.7% during 2010. |
| It also also seeking to reduce its 300bn euros ($419bn; £259bn) debt. | It also also seeking to reduce its 300bn euros ($419bn; £259bn) debt. |
| Austerity measures the government is now planning to introduce include freezing public sector pay, raising taxes and changing the pension system. | Austerity measures the government is now planning to introduce include freezing public sector pay, raising taxes and changing the pension system. |
| The plans have sparked anger from unions, and a nationwide strike was held last week. | The plans have sparked anger from unions, and a nationwide strike was held last week. |