Greece 'to speed up cost-cutting work'
The Greek Finance Minister, Evangelos Venizelos, has said that his government will increase cost cutting measures and begin privatizing state assets as soon as possible. Greece is receiving a 110 billion euro bailout from the European Union and the International Monetary Fund and an additional 109 billion euros that was agreed to in July to deal with its large fiscal deficit. Mr. Venizelos has maintained that his country is doing what it can to deal with situation but that additional reforms are necessary and need to be carried out in full.