Greek Prime Minister George Papandreou vowed to go ahead with
deep spending cuts and austerity measures, amid more protests
across the country.
Papandreou in an effort to solidify support from the European
Central Bank officials and leaders of others eurozone nations
displeed any notions that Greece will default on its debt
even as the Mediterranean nation struggled to meet the terms
of its last loan.
Is addition, Greek Finance Minister Evangelos Venizelos said
that the country would impose a new two-year property tax to
boost revenues and close it budget gap.
Should Greece default, it would hit the bottom lines of some
of the largest banks in Europe that are the biggest holders
of Greek Bonds.
