Wednesday, September 7, 2011

Greece 'to speed up cost-cutting work'

BBC News
September 7, 2011

The Greek finance minister has pledged to speed up reforms to cut public spending and reduce the size of the state, saying his privatisation plans would start "immediately".

Evangelos Venizelos said a group of state assets would be transferred on Wednesday to a special fund ahead of their later sale.

The privatisations aim to raise 5bn euros ($7bn; £4.4bn) this year.

Greece is cutting spending to try to reduce its vast public debts.

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