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'Painful' cuts needed to keep Greece in the euro zone: PM

Published on Aug 30, 2012 9:05 PM
 
Greece's Prime Minister Antonis Samaras addresses journalists after a meeting with Greek president Karolos Papoulias in Athens on Aug 28, 2012. He said on Thursday that "painful" cuts worth 11.5 billion euros (S$18.1 billion) were inevitable to keep the country in the euro zone. -- PHOTO: REUTERS

ATHENS (AFP) - Greek Prime Minister Antonis Samaras said on Thursday that "painful" cuts worth 11.5 billion euros (S$18.1 billion) were inevitable to keep the country in the euro zone.

"Many of these cuts are difficult, painful," Mr Samaras told a meeting of his conservative New Democracy party.

"But they are inevitable. Without them, the country would return to zero credibility and, in essence, would exit the euro zone," he added.

"This is the last package of such cuts," Mr Samaras said.

 
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