Tuesday, March 9, 2010

Greece asks US to help crackdown on speculators

Greece asks US to help crackdown on speculators
George Papandreou: "It is time to put our house in order"
The Greek prime minister has called on the US to help crack down on the financial speculators he blames for exacerbating his country's debt woes.
George Papandreou said he wanted to see the US impose stricter regulations on hedge funds and currency traders.
The comments of the Greek prime minister came before he is due to meet US President Obama later on Tuesday.
Greece is continuing to pass austerity measures as it seeks to reduce its substantial budget deficit.
Its deficit currently stands at 12.7%, more than four times higher than the 3% limit set for the 16 European nations that share the euro.

Greece wants the US to crack down on the financial speculators because he blames the US for making their economy worse. Because their economy has gone down he wants us to enforce stricter rules to help them out of their troubles.

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