Greece Warns of Worse Downturn as Strikes Loom

The Greek economy is set to shrink by more than expected this year, the government said on Wednesday, as it braced for nationwide strikes protesting its plans for bringing the country's budget deficit under control.

Greece, grappling with a ballooning deficit and a 300 billion euro debt, told the European Union that 2010 gross domestic product would "most likely" shrink by more than the 0.3 percent currently forecast.