Greek PM urges more effective EU action on crisis

ATHENS: The euro zone must deal more effectively with its growing debt crisis, Greek Prime Minister Lucas Papademos said ahead of a Dec. 9 summit of EU leaders.

"It is important that the spread of the crisis in the euro zone is dealt with effectively, with greater progress in fiscal convergence and a bolstering of the economic governance in Europe," Papademos told lawmakers.

The new prime minister said the ECB's intervention in bond markets had helped Greek banks and added that the government was working to protect Greece's interests in ongoing debt swap talks.