Greece: No quitting Eurozone

Greek Prime Minister, George Papandreou, has vowed the country will not quit the euro zone nor seek help from the International Monetary Fund. He also pledged clear measures to reel in the nation's massive deficit without hurting the poor.

A team of International Monetary Fund experts has begun a week-long mission to mentor the Greek government on how to plug a multi-billion hole in its public finances, the finance ministry said. (AFP/File/Tim Sloan)

Greek Prime Minister George Papandreou said, "We are facing up to our problems, and that is more responsible than simply doing something which may sound good to the markets. In a year, the markets will be coming back for more because we haven't really cut deep to where the root of the problem is."

The Greek Prime Minister, reiterated his vision for deeper, long-term change rather than spending cuts to plug budget holes. He also ruled out a value-added tax hike, saying it was not fair to make low-income earners pay for the crisis. Greece's new fiscal plan is expected to be unveiled on Thursday and submitted to the European Union by next week.