Greek Prime Minister George Papandreou called on party lawmakers Thursday to support his unpopular austerity measures. Mr. Papandreou insists that his country to continue and work itself out of the debt crisis it is facing right now. He gave these remarks after two Socialist deputies had resigned earlier that day in protest to the way their government was handling their economic crisis. Mr. Papandreou acknowledged that his country had made mistakes, but he also promised that the European Union will come to their country's aid with an enormous loan deal. European Union econimcs commissioner Olli Rehn said in a statment Thursday that euro-zone goverments will agree at a meeting starting Sunday in Luxembourg to pay the next installment of rescue loans for Greece, while delaying the final decision on a longer-term Greek aid package until July.
Greece is due to receive €12 billion by the end of the month, with €8.7 billion coming from euro-zone governments and €3.3 billion from the IMF.
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