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Monday, January 4, 2010

Greece faces New Year debt woes


With the global economy still struggling, the Greek government insists there is no danger of the country defaulting on its debt and needing a bail-out from partners in the euro zone.


It comes after panic hit the Athens stock exchange in December, when leading agencies downgraded Greeces credit rating after a sharp rise in the deficit.


In an attempt to restore confidence, the government has announced a freeze on wages in the public sector.


Barnaby Phillips reports from Athens.