Greek economy 'going over the cliff'

The Greek Prime Minister George Papandreouhas has warned his country that it faces drastic spending cuts and higher taxes, to stop its economy "going over the cliff".

Greece has a massive budget deficit and there are fears its problems could spill over into other Eurozone countries and trigger a far wider economic crisis.

A team from the EU will start advising Greece on how to fix its finances.

Gavin Hewitt reports.