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Page last updated at 22:40 GMT, Tuesday, 2 February 2010

Greek economy 'going over the cliff'

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The Greek Prime Minister George Papandreouhas has warned his country that it faces drastic spending cuts and higher taxes, to stop its economy "going over the cliff".

Greece has a massive budget deficit and there are fears its problems could spill over into other Eurozone countries and trigger a far wider economic crisis.

A team from the EU will start advising Greece on how to fix its finances.

Gavin Hewitt reports.

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