国际英语新闻：Greece to face painful reforms after receiving aid

Considering the prospects of Greece if the EU-IMF support mechanism was not available Sunday, the sacrifices are tough, but reasonable, Greek analysts said.

Under the pressure of international markets, credit ratings agencies and speculators have downgraded Greece's credit rating to default and bankruptcy during the past five months.

Now Athens is given a chance to meet its short-term and medium-term obligations on finance and to proceed with the structural reforms over the next three years.

The success of the efforts mostly depends on Greece's determination to implement the policies including the Stability and Growth Program released in January and the additional measures announced Sunday.

The Greek government will implement the austerity measures without considering the political cost, Papandreou said. But the country's previous governments that had announced major reforms finally succumbed to the pressure of society.

Over the past five months, Greek citizens have launched a series of strikes to protest the austerity measures, including cuts to civil servants' salaries and pensions and higher value-added taxes, which sometimes ended in violent clashes between anarchists and police.

At the same time, the Greek government will focus on the growth of the country's shipping industry, tourism and promote the "green economy" which is based on renewable energy sources to reduce its deficit.