cheer up- Athens, Greece (CNN) -- Greece accepted a bailout deal including tough austerity measures, Finance Minister George Papaconstantinou announced Sunday.
He did not reveal the size of the package negotiated with the European Central Bank, European Commission and International Monetary Fund, saying it would be announced in Brussels, Belgium, later on Sunday.
It includes a promise by Greece to cut its budget deficit to 3 percent of gross domestic product, as required by European Union rules, by 2014, he said.
Greece had a choice between "destruction" and saving the country, and "we have chosen of course to save the country," Papaconstantinou said.
The expected austerity measures are unpopular among Greeks. Protesters clashed with police Saturday during May Day demonstrations, and strikes have been announced for later this week.
May Day observed around the world
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Papaconstantinou confirmed Sunday that the government would tighten its belt significantly, despite the protests.
"The expenses of the public sector will go down very considerably," he said.
Prime Minister George Papandreou earlier Sunday tried to rally the country behind the government.
cnn.com
and code orange in time square- fireworks, propane tanks, black pwdr and a clock |
