Greek PM outlines deficit-cutting measures

Greek Prime Minister George Papandreou has outlined a series of new budgetary measures, in a bid to convince markets and European partners that the country is capable of tackling its rising debt problem.

In a highly anticipated policy speech on Monday night (14 December), Mr Papandreou said Greece needed to "change or sink."

"It is time to address and resolve once and for all deep rooted problems that are holding the nation back," said the recently elected Socialist leader, under ...