Greece Gets Fresh Ratings Warning
Crisis-stricken Greece received a fresh warning to its credit rating on Tuesday in another blow to Athens’ efforts to claw its way back to solvency.
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The European Union has approved Greek efforts aimed at reducing its public deficit of 12.7 per cent, which has weighed the common currency of the euro down. Athens has pledged a number of austerity measures, including a public salary freeze, a higher retirement age for men and a hike in petrol prices to get its finances back in order. But the EU has said it will place Greece under economic scrutiny to ensure the country sticks to its measures. Barnaby Philips reports from Athens. February 3 2010