Greek PM George Papandreou: 'I won't back down'

Greek Prime Minister George Papandreou has vowed to fight on in seeking support for new austerity measures that have sparked strikes and protests.

Greek ruling party deputies are holding an emergency meeting to discuss the crisis that has shaken global markets.

To a standing ovation, Mr Papandreou said he would reshuffle his cabinet before putting it to a vote of confidence by the parliament.

He said neither he, nor the Greek people, would back away from confronting Greece's financial crisis.