09 December, 2009
The new government "will do what is required to be consistent with the need for a medium-term reduction of the budget deficit," Finance Minister George Papaconstantinou stated, after a downgrade in Greece's credit rating by Fitch rating agency. He also dubbed unrealistic the scenario of Greece resorting to the assistance of the International Monetary Fund.
Giving an interview about the issue yesterday on CNN, Papaconstantinou stressed that "the government is putting together very quickly a number of initiatives and measures to reassure the markets and our European partners that we are serious about reducing the deficit ."
"There is a movement on all reforms fronts," something that will restore Greece’s credibility.
Source: GREEK NEWS AGENDA issued by the Secretariat Genera