February 3, 2010 4:59 PM

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Greek PM introduces austerity measures to cut public debt

Greek Prime Minister George Papandreou has announced tough austerity measures aimed at cutting his country's soaring public debt. Mr Papandreou said a public sector pay freeze and fuel duty increases were essential because the economic crisis was propelling Greece towards a cliff. <br/><br/>He said the European Union was pressuring him to curb the budget deficit, which is four times higher than the 3 per cent permitted. The European Commission will meet later today to consider his measures.<br/>

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