September 11, 2011
Prime Minister George Papandreou vowed Saturday that the country would meet its budget targets and press ahead with difficult reforms, even as thousands demonstrated against those reforms on the streets of Greece's second largest city.
His remarks came as Greece's embattled government is scrambling to cut public spending and step up its reform drive after receiving stark ultimatums from other euro-zone governments that further rescue money will be withheld if Athens doesn't deliver on promises.
"Even if the recession this year is appreciably bigger than the original forecasts…Greece will meet its fiscal targets doing all it has to do," Mr. Papandreou said.
Earlier this month, talks between Greece and a visiting troika of officials from the European Commission, International Monetary Fund and European Central Bank--who were in Athens to assess the country's eligibility for fresh aid-—were suspended in a spat over whether Greece would need to take further measures.
Without the aid, Greece is expected to run out of money within weeks, according to senior Greek officials.
Clashes broke out Saturday between riot police and demonstrators as thousands of Greek workers, students and ordinary citizens took to the streets of Thessaloniki to protest government overhauls. Demonstrators hurled projectiles at police, who responded by firing tear gas.
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