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George Papaconstantinou speeks to Martin Wolf the Financial Times chief economist commenatator, on the credibility of his strategy to take greece out of the financial crisis.
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Related:
Eurointelligence: Financial markets give thumbs down to Papandreou, Dec. 16, 2009
“A step in the right direction”, is what Joaquin Almunia called the Greek deficit reduction plan, which is another way of saying that the plan has to go further to be acceptable. Financial markets continued to hammer Greece, as CDS rose 25.5 basis point to 245.5 yesterday, in response to Papandreou’s speech on Monday night. read more