European Union leaders pledged to stabilize the euro-areaeconomy, vowing to stave off a Greek default as long as PrimeMinister George Papandreou pushes through a package of budget cutsnext week.

“This is not only a green light but also a positive sign for thefuture of Greece,” Papandreou told reporters after the firstsession of an EU summit in Brussels late yesterday.

Greece's next hurdle is to shepherd 78 billion euros ($111billion) of austerity measures through parliament, afteryesterday's endorsement of the program by experts from the EuropeanCommission, European Central Bank and International MonetaryFund.

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