The European Union has approved Greek efforts aimed at reducing its public deficit of 12.7 per cent, which has weighed the common currency of the euro down.

Athens has pledged a number of austerity measures, including a public salary freeze, a higher retirement age for men and a hike in petrol prices to get its finances back in order.

But the EU has said it will place Greece under economic scrutiny to ensure the country sticks to its measures.

Barnaby Philips reports from Athens.

Source: Al Jazeera