Greece is closer to asking for EU help with deficit

Greek Prime Minister George Papandreou said the country will seek EU help if interest rates demanded by bond buyers in debt offerings are so high that they put deficit reduction at risk. "What we are saying simply is we need the help so that we can borrow at the same rate as other countries, not at high rates which in fact undermine our possibility for making the changes and cutting down our deficit," he said. Bond traders anticipate that Greece will come to the market with an offering of $4 billion to nearly $7 billion in early March.

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