Eurozone seeks tougher Greek action

Finance ministers of the 16-nation eurozone told Greece on the 15 February 2010 that it would have to introduce more spending cuts and revenue-raising measures in March 2010 if it appeared unable to slash the 2010 budget deficit by as much as promised.

European Union policymakers turned a deaf ear to Greece’s appeals to switch the emphasis from new austerity measures to spelling out a rescue plan that would calm market fears of a Greek default.

ESO: Background information: German press calls for tough line on Greece http://www.europeansources.info/record/german-press-calls-for-tough-line-on-greece/

ESO: Background information: Greece to pay price of scrutiny for help http://www.europeansources.info/record/greece-to-pay-price-of-scrutiny-for-help/

BBC News, 15.2.10: Greece 'may cut spending further' http://news.bbc.co.uk/1/hi/business/8517319.stm

Deutsche Welle, 16.2.10: EU gives Greece budget plan deadline http://www.dw-world.de/dw/article/0,,5252834,00.html

EurActiv, 15.2.10: EU finance ministers to pressure Greece on reform http://www.euractiv.com/en/euro/eu-finance-ministers-pressure-greece-reforms

EurActiv, 15.2.10: Greece against new measures, says finance minister http://www.euractiv.com/en/financial-services/greece-has-nothing-add-says-finance-minister

Council of the European Union: Press Release: PRES/10/30: Council gives notice to Greece to correct its government deficit by 2012, setting out a timetable for corrective measures http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/112905.pdf

European Commission: DG Economic and Financial Affairs: Stability and convergence programmes (or updates): 2009-2010: Greece: Ministry of Finance: Update of the Hellenic Stability and Growth Programme, Including an Updated Reform Programme, January 2010 http://ec.europa.eu/economy_finance/sgp/pdf/20_scps/2009-10/01_programme/el_2010-01-15_sp_en.pdf

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