Papandreou says austerity measures will regain investor's confidence

By IBTimes Staff Reporter | June 21 2010 4:15 AM

Greek Prime Minister George Papandreou mentioned that the austerity measures adopted by his government are capable of regaining investor's confidence. EU officials said Greece is on the right track towards reducing the budget deficit to 8.1% this year from 13.6%. The Greek program gained recognition from EU officials who along with the IMF announced 110 billion euros aid package for Greece to tame the second largest deficit in the EU.

Sponsorship Link

It is worth noting, Papandreou announced wage and spending reductions as well as tax increases to bring the deficit back to the EU ceiling of 3% by 2014.

Eurozone Leaders Try to Tackle Tax Evasion

Eurozone Leaders Try to Tackle Tax Evasion

Radical AfD Political Party Could Disrupt German Elections

Radical AfD Political Party Could Disrupt German Elections

British Pound traded at 7-week lows aganst US-Dollar as U.K. retail sales slump

British Pound traded at 7-week lows aganst US-Dollar as U.K. retail sales slump

Yen down after Japan's worst April trade deficit

Yen down after Japan's worst April trade deficit

In Depth

Xbox One vs. PS4: A Full Specs Comparison

Xbox One vs. PS4: Comparing The Specs

New Government Report Calls Rana Plaza Garment Factory Collapse 'Culpable Homicide'

Bangladesh Gov't Calls Building Collapse 'Culpable Homicide'

Iraq: The Fundamentalists’ War Against Vice Targets Alcohol And Prostitution

In Iraq, The Fundamentalists’ War Against Vice Targets Alcohol And Prostitution

White Tiger Genetic Secret Unveiled: Single Mutation In Single Gene Removes Orange Color [PHOTOS]

White Tiger's Genetic Secret Unlocked By Scientists [PHOTOS]

web counter