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Greek PM calls for crack down on speculators

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Leadership

Greek PM calls for crack down on speculators

09.03.2010
The Greek Prime Minister George Papandreou has called on Europe and the US to help crack down on speculators, who he said are making billions every day by betting on Greece defaulting on its debt.

Papandreou (pictured) said such investors were only interested in immediate returns and had “utter disregard” for the consequences of their actions on the wider economic system.

Papandreou made his comments in Washington yesterday, where he was meeting with US Secretary of State Hillary Clinton.

Clinton acknowledged that Greece is currently facing “difficult days” but commended Papandreou for his leadership in tackling the challenge.

“We support Greece and the tough economic measures it is taking to address this issue. The Prime Minister and I discussed this today and we will remain in close contact going forward,” she said.

The Greek PM is also set to hold talks with US President Barack Obama in Washington later today, which are likely to include the country’s debt problems.    

Papandreou is currently seeking EU and US support for the austerity measures his government is implementing, which are aimed at slashing Greece’s soaring levels of public debt.

The Greek PM met with German Chancellor Angela Merkel on Friday and French President Nicolas Sarkozy over the weekend.

 

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