ECONOMY

Venizelos slams talk of default

Greece’s finance minister on Saturday dismissed talk that the overborrowed country would default and said Prime Minister George Papandreou cancelled a trip to the United States because tough decisions had to be made imminently.

“The comments and analyses about an imminent default or bankruptcy are not only irresponsible but also ridiculous,» Finance Minister Evangelos Venizelos said in a statement.

“Every weekend Greece … is subject to this organised attack by speculators in international markets,» he added.

Venizelos said Papandreou decided to return to Athens not because of an economic emergency but because the government had to take tough decisions as talks resume with its international lenders before a next bailout tranche is released.

[Reuters]