Scepticism over Greece debt plan

Greece struggles to regain credibility in Europe with three-year plan to cut spending.

     

    Greece's financial problems have been causing a great deal of concern across the eurozone because the country is suffering from a budget deficit that is four times the EU limit.

    The European Commission can impose fines on Greece, but such a step could only worsen the nation's financial woes.

    In an ambitious effort to reduce its debt, Athens has submitted a plan to the EC that promises to tackle the problem through spending cuts over a three-year period.

    Al Jazeera's Barnaby Phillips reports from the Greek capital, where analysts are sceptical that the government's plan will succeed.

    SOURCE: Al Jazeera


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