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Athens Times

Ireland plays politics as EU debt talks enter key phase

Ireland plays politics as EU debt talks enter key phase
Read more on The Irish Times

A group of financial analysts in the United States have announced that the US economy is on a sustainable path to recovery, but it will take some time before unemployment figures return back to normal. In Greece, however, financial woes have been causing a great deal of concern across the eurozen because the country is suffering from a budget deficit that is four times the EU limit. The European Commission can impose fines on Athens, but such a step could only worsen Greece’s financial problems. In an ambitious effort to reduce their debt, the country has submitted a plan to the commission that promises to tackle their debt downgrade with spending cuts over a three-year period. Al Jazeera’s Barnaby Phillips reports from the Greek capital where analysts are sceptical that plans will succeed. Jan 15, 2010
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