GREEK LEADERS DEFEND RESCUE DEAL

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STORY: GREEK LEADERS DEFEND RESCUE DEALDATELINE: Feb. 12, 2012LENGTH: 0:02:08LOCATION: AthensCATEGORY: EconomyPKGINTRO:Greek cabinet has approved the austerity rescue bill to avoid a catastrophic default in March. But Greek coalition government party leaders urged lawmakers to pass more painful spending cuts on the eve of a crucial parliamentary vote.PKG:Greek Prime Minister Lucas Papademos urged on Saturday lawmakers to support an austerity rescue deal in a crucial parliamentary vote on Sunday.Speaking in a dramatic televised address to the nation, Papademos said quote:"We are a breath away from zero point. The Greek parliament is asked to resume a historic responsibility. A disorderly default would throw the country in a catastrophic adventure. It would create conditions of uncontrolled economic chaos and social eruption." Describing the disastrous consequences, such as pause in the payments of pensions, he warned of a chaotic collapse in living standards and an exit from the euro
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Producer : Xinhua News Agency

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