Can Greece ever pay back its debts?


A 48-hour general strike is taking place in Greece, as the country's parliament prepares to vote on the latest round of austerity measures, including more tax hikes, pay cuts and job losses.

But there are concerns that the measures will not be sufficient to enable Greece to pay back its debts - currently about 162% of its GDP.

European banks have agreed to write off about 21% of the debt so far, but European leaders meeting at the weekend may ask them to take a further hit, increasing the so-called "haircut" to up to 50%.

Meanwhile, UK businessman Lord Wolfson, the chief executive of retailer Next, is offering a £250,000 prize for the best plan to manage one or more countries abandoning the euro currency.

The BBC's Sally Eden discusses the day's major business stories.

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