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Papandreou says don't bet against Greece

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Papandreou says don't bet against Greece
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The Greek Prime Minister Georges Papandreou has gone on the counter-attack in Davos against speculators he says are undermining Greece and using it as the Euro’s weak link.

He also denied Greece would seek help from the EU, mirroring rebuttals from Paris and Berlin about media reports they were talking about giving the Greeks a handout.

“There are a lot of rumours and speculations that have nothing to do with reality. We are a very serious government ready to put our house in order, and we will do so, and we’ll move ahead. And you know we will make things turn around,” he insisted.

There is however serious resistance building to the Socialist government’s plans to slash spending, notably among farmers who are still blocking roads and border crossings into Bulgaria and Turkey.

Economic crisis could become social crisis as well if proposed tax reforms, civil service pay cuts, and a slashing of red tape and bureaucracy do not produce results.