Minister: New deal 'binds Greece to euro' - WAOW - Newsline 9, Wausau News, Weather, Sports

Minister: New deal 'binds Greece to euro'

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ATHENS, Greece (AP) -- Greece's finance minister says a new euro130 billion ($172 billion) bailout deal "binds Greece to euro" and will shield the country from default.

Evangelos Venizelos made the remarks Wednesday after the government conceded that a new round of austerity measures will deepen the recession and cause the country to miss its target of generating a primary budget surplus in 2012.

Greece's coalition government is scrambling to push through a batch of emergency laws that will further cut incomes and state spending after eurozone countries demanded new austerity measures in return for the new rescue funds.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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