Venizelos fears 'two-speed Europe' - The Best from Greece

Finance Minister Evangelos Venizelos warned on Sunday that delays in dealing with the deepening eurozone debt crisis could lead to lead to a "two-speed" Europe, with countries pushed outside the core of the decision making within the single currency.

 

"Our struggle is against a two-speed Europe, financially and socially," Venizelos told parliament during a budget debate.

 

The budget vote at midnight on Tuesday is the first major act of the coalition government formed last month to push Greece's new 130 billion euro debt agreement through, aimed at slashing the national debt with cheaper EU-IMF rescue loans and a 50 percent bond write-off by banks.

 

Venizelos said the new property tax levied on electricity bills was succeeding in helping Greece reach its budget targets with compliance at around 80 percent - on par with normal levels of bill payment. (Athens News/gw)