Greece announces new budget cuts plan

The Greek government has announced its renewed austerity measures worth 4.8 billion euros aiming to defuse a government debt crisis.

The new measures have drawn different reactions from unions and the general public.

The measures contain 2.4 billion euros in spending cuts and the same amount of new revenues such as taxes.

They include cuts in civil servants' salaries, pension freezes, increasing sales tax, and hiking taxes on a series of luxury consumer goods.

Prime Minister George Papandreou speaks to reporters after meeting President Karolos Papoulias in central Athens, Greece, on Wednesday, March 3, 2010. (AP Photo/Petros Giannakouris)