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Crisis meeting called on Greek economy

Crisis meeting called on Greek economy
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The Greek prime minister has vowed to clean up the country’s economy.

As Greek financial markets took a beating over the sharp deterioration of its public finances, PM George Papandreou said he is determined to win back lost credibility.

He spoke after meeting the Greek president when he asked for an all-party crisis meeting to be held next week.

Papandreou said they all need to “rally together in the fight against corruption, in the fight for transparency and the proper operation of the state, with a correct and fair taxation system that will be adhered to by every Greek citizen.”

Earlier Greek lawmakers were told the country’s debt stands at a record 300 billion euros.

Asked if Greece is heading for bankruptcy, Jean-Claude Juncker, chairman of the Eurogroup of euro-zone finance ministers said no and so there would be no need for help from other EU states.