Greece has been told that it must make further spending cuts or face sanctions, the eurozone chief has said.

Jean-Claude Juncker told German radio that Greece must understand that other eurozone members are not prepared to pay for its mistakes.

After the European Union vowed to helped Greece last week, the tone has turned harsher this week as talk of a bail-out proves unpopular, the BBC reported.

Greece's woes have sent the euro down to a nine-month low recently.

Juncker - chairman of the 16 nations that share the single currency and also Luxembourg's prime minister - has said Greece agreed to outline additional cuts in March if necessary.

He added that further measures would be imposed if Greece's debt reduction plans were not shown to be on target by 16 March.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!