Papademos: "No to reductions in nominal wages and pensions"

Speaking at the annual meeting of the Hellenic-American Chamber, the PM offered assurances that there will be no further reductions in nominal wages and pensions or increases in tax rates

"Greece is at the deepest point of the recession, and we still have a lot of hard work ahead of us" he said, and expressed his optimism that the country will return to positive growth during 2013.