Greece contingency take some-more measures or face sanctions: inform

ATHENS Sat February 27, 2010 3:59pm EST Related News Eurogroup"s Juncker: Greece contingency have some-more effortTue, February sixteen 2010UPDATE 1-Eurogroup"s Juncker-Greece contingency have some-more effortTue, February sixteen 2010Eurozone gives Greece thirty days to show great on deficitTue, February sixteen 2010Eurozone gives Greece thirty days to show great on deficitMon, February fifteen 2010HIGHLIGHTS-EU sustains vigour on Greece to cut deficitMon, February fifteen 2010

Luxembourg Prime Minister Jean Claude Juncker binds a headlines discussion at the finish of a European Union leaders limit in Brussels in this Dec 11, 2009 record photo.

Credit: Reuters/Eric Vidal

ATHENS (Reuters) - Greece contingency take serve measures to revoke the necessity or it will face sanctions, Eurogroup authority Jean-Claude Juncker was quoted as observant by a Greek newspaper.

Greece has until Mar sixteen to remonstrate EU financial ministers and the senior manager European Commission that due measures to cut the bill shortfall this year to 8.7 percent of sum made at home product from 12.7 percent in 2009 are sufficient.

"Greece contingency feature the efforts and move to serve actions to revoke the deficit," Juncker, who heads the Eurogroup of euro section financial ministers, told Eleftherotypia newspaper.

"If it doesn"t remonstrate us afterwards it will presumably face sanctions. Greece contingency assimilate that the taxpayers in Germany, Belgium or Luxembourg are not ready to repair the mistakes of Greece"s mercantile policy," Juncker said.

"Euro section financial ministers have concluded that some-more efforts are compulsory from Greece," he said.

Juncker, who is additionally Luxembourg"s budding minister, pronounced euro section financial ministers had discussed ways to assistance Greece.

"Luxembourg is additionally ready to assistance Greece on a shared level, if Athens asks for it. We contingency initial be assured that the measures are critical and tough. The Greek supervision contingency concentration on serve spending rebate and on the ways to enlarge revenues," he said.

(Reporting by Lefteris Papadimas; modifying by Ingrid Melander and Philippa Fletcher)

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