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.

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