EU calls on Athens to control debt / Greece to unveil fresh austerity package

Report of visit by European Commissioner for Economic and Fianncial Affairs Olli Rehn to Athens for discussions with the Greek government on the economic crisis in Greece, 1 March 2010.

The European Union urged Greece to announce additional austerity measures aimed at cutting its budget deficit. Eurozone political leaders also stepped up warnings of regulatory action against financial speculators implicated in the Athens debt crisis.

The FT reportsed on the 3 March 2010 that Greece was poised to announce that day a new austerity package of tax hikes and spending cuts worth up to €4.8bn.

BBC News, 3.3.10: Greece backs new round of tax rises and spending cuts http://news.bbc.co.uk/1/hi/world/europe/8546589.stm

Kathimerini, 2.3.10: PM seeks backing for more cuts http://www.ekathimerini.com/4dcgi/_w_articles_politics_100002_02/03/2010_115299

ESO: Background Information: Greek debt sees big one-day fall http://www.europeansources.info/record/greek-debt-sees-big-one-day-fall-pressure-grows-for-more-greek-cuts/

ESO: Background information: Moves in motion to limit CDS use http://www.europeansources.info/record/moves-in-motion-to-limit-cds-use/

Deutsche Welle, 1.3.10: Angela Merkel rules out German bail-out for Greece http://www.dw-world.de/dw/article/0,,5299788,00.html

BBC News, 1.3.10: Greece 'must do more to reduce its budget deficit' http://news.bbc.co.uk/1/hi/business/8542770.stm

France24, 1.3.10: EU commissioner tells Greek govt to do more to cut deficit http://www.france24.com/en/20100301-eu-commissioner-tells-greek-government-do-more-cut-deficit-economy-greece

Kathimerini, 1.3.10: Athens braces for Rehn visit http://www.ekathimerini.com/4dcgi/_w_articles_politics_100002_01/03/2010_115262

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