Wednesday, May 18, 2011

EU Juncker: Greece Crisis Difficult, More Measures Needed

Wall Street Journal
May 17, 2011

Greece's economic crisis is more difficult to solve than others' in the 17-member euro zone, requiring its government to take additional measures, eurogroup President Jean-Claude Juncker said Tuesday.

Greece must reduce its primary deficit and privatize public entities, Juncker said, adding that the country's debt level is "unsustainable."

"These efforts of course will not be pleasant for the average citizen," said Juncker, who was speaking at a conference hosted by the Government of the Future Centre in Brussels. The event coincided with a meeting of European Union finance ministers.

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