Prime Minister Francois Fillon announced Thursday that the government is to "freeze" public spending in 2011, 2012 and 2013. The public expenditure will rise no more excluding the debts interest and the pension cost in the next three years, he said.
The parliament of Germany, another big contributor of European aid package, is also expected to pass legislation by Friday to legalize its share to bail out Greece.
Greece was exposed to the financial crisis since last October when its new Socialist government raised the state's 2009 deficit forecast. To date, the Hellenic Republic is facing a huge debt of more than 300 billion euros. (1 euro = 1.26 U.S. dollars)