Euro-zone nations will give Greece 1 month to right its budget

02/16/2010 | Wall Street Journal, The

Euro-zone finance ministers said they will give Greece one month to prove it can balance its budget before they will demand fresh taxes and substantial spending cuts. Because EU countries are keen to avoid a rescue of Greece, the move is basically a delaying tactic, but it also shows that the bloc is prepared to delve into the fiscal problems of its members.

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