Eurozone countries lay down the law on Greek government spending

Eurozone finance ministers have given Greece a month to slash spending and raise taxes. They also demanded monthly progress reports, and warned that if further risks materialize, Greece will have to take even more drastic measures. Eurogroup president Jean-Claude Juncker also warned currency speculators, who have sent the value of the Euro tumbling against the dollar, that they would not be able to destroy Greece. A full meeting of the 27 EU finance ministers is expected to ratify the decision today.