Oct. 27 (Bloomberg) -- Greek parliamentary approval of a new package of austerity measures led to approval of the next installment of Greece’s international loan package, Finance Minister Evangelos Venizelos said.
If Greece’s partners were not convinced that the country can generate a primary surplus in 2012, they wouldn’t have agreed to the “radical plan” decided at the the meeting of European leaders earlier today, Venizelos said in comments televised live on state-run NET TV.
Without the plan, Greece’s debt ratio would be 173 percent in 2020 while now it will cut the debt-to-gross domestic product ratio by 50 percentage points, he said.
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