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Greece unveils more cuts in 2011 budget

Greece unveils more cuts in 2011 budget
ATHENS, Greece (AP) — Crisis-hit Greece pledged Thursday to slash another €5 billion from its deficit next year, making deeper cuts than planned in the 2011 budget to ensure it sticks to the terms of an international rescue deal.
Read more on KYIV Post

With the global economy still struggling, the Greek government insists there is no danger of the country defaulting on its debt and needing a bail-out from partners in the euro zone. It comes after panic hit the Athens stock exchange in December, when leading agencies downgraded Greeces credit rating after a sharp rise in the deficit. In an attempt to restore confidence, the government has announced a freeze on wages in the public sector. Barnaby Phillips reports from Athens.

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