Greek Prime-minister calls for Greek people unity in the battle to bail out the country's economy reassuring them that their sacrifices will bear fruit and the country's picture will change in 3 years. Mr. Papandreou said , in an interview with daily "Ta Nea", priority is placed in restoring the country's credibility lost in the criminal selections of the previous government and underlined his recent contacts abroad and efforts to crack speculative practices. He also stressed that the government will meet the challenge to uproot bad practices of the past that led the country in the present situation, adding that he would no longer put up with blatant favouritism , privileges of the few, disregard of society, provocative rise to wealth, illicit profiteering and tax evasion.

French President Nicolas Sarkozy and German Chancellor Angela Merkel called Thursday for a clampdown on the type of speculative trading that exacerbated Greece's debt crisis and undermined the euro in recent weeks.

 

Employment Minister Andreas Loverdos ruled out Wednesday the possibility of trimming the 14th salary in the private sector. Addressing the House, Loverdos dismissed such a measure as detrimental to economy. Sounding on the same wavelength, the SEV (Hellenic Federation of Enterprises) head also blasted such a possibility. Dimitris Daskalopoulos lashed out at the employees going out on strikes and suggested permanent working status in the public sector be abolished. His last comments sparked fierce reaction by the parties of the left.

A survey conducted by the National Statistics Service on living conditions and income earned in 2008 indicates that 20% of Greece's population are facing poverty. In numbers it is translated to 832.975 households or 2.186.869 people whose income is not over the poverty line, specifically their annual income is not over €6.480 per person and €13.608 for households comprised of two adults and two dependant children.

The European Commission in cooperation with Germany, France and other EU member states are discussing the need for a eurozone emergency funding mechanism. The issue was the center of talks during German Chancellor Angela Merkel meeting with Eurogroup president Jean-Claude Juncker. Mrs. Merkel, however, kept some reservations for the creation of EMF. Economic Affairs Commissioner, Olli Rehn briefed the College of Commissioners on the proposal while in an interview with Tuesday's edition of newspaper "Bima" Mr. Rehn says that the European Committee is considering to propose the creation of an institution that commands the experience of the IMF and similar executive powers. Furthermore, Berlin announced Germany and France are taking joint action against speculators.

Reacting to the measures announced by the Greek government, employees are staging new strikes and demonstrations. Tax offices remained closed on Tuesday, while judicial workers staged a work stoppage from 12:00 till noon. Landfills will remain closed until Thursday. GSEE and ADEDY have scheduled a 24-hour nationwide strike for Thursday, as well as a demonstration in central Athens. Furthermore, petrol station owners announced they will go out on a 24-hour strike on 18 March.

Government crews are carrying out inspections to avert illicit profiteering following repeated and unjustifiable rises in fuel prices in the last days. Pan-Hellenic Federation of Gas Station Owners has threatened to begin mobilizations, underlining that the Federation has repeatedly called for a meeting with Finance Minister G. Papakonstantinou in the last weeks but has been never set. "Exorbitant fuel prices show that speculators robbing people are the big business cartels controlling import, refinery and wholesale of fuel as well as the government's taxation attack" says GCP announcement.

Britain needs to tighten fiscal policy by about 20 billion pounds more than currently pencilled into government plans by 2013/14, accountancy firm PricewaterhouseCoopers said in a report on Tuesday.