VOICED: Greece announces radical measures to rein in debt

Prime Minister George Papandreou warns of Greece's rising public deficit, projected to reach 12.7% of GDP. He aims to reduce it below 3% by 2013 through public spending cuts, though the specifics remain unclear. The EU criticizes the lack of detailed plans, urging Greece to stabilize its finances quickly. Papandreou's challenge is to convince both domestic and international stakeholders that his strategy will resolve Greece's financial instability.

What is the projected public deficit of Greece for the year mentioned in the video?

• 10.5% of GDP

• 12.7% of GDP

• 15.3% of GDP

• 9.8% of GDP

By what year does the Prime Minister plan to reduce the deficit below 3%?

• 2013

• 2011

• 2012

• 2014

What is the main criticism from the EU regarding Greece's deficit reduction plan?

• Lack of detailed measures

• Lack of public support

• Insufficient funding

• Over-reliance on foreign aid

What is the primary method proposed to reduce Greece's deficit?

• Cutting public spending

• Increasing taxes

• Boosting exports

• Privatizing state assets

What is the biggest challenge for the Prime Minister in implementing the financial plan?

• Reducing unemployment

• Convincing stakeholders of its effectiveness

• Increasing foreign investment

• Gaining support from the EU