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Denis Kessler, CEO of Scor, says the French cabinet reshuffle is an "historical event" but that it comes "very late" and that France needs to start an austerity program.
The government of Greece suffered from a "lack of credibility" that worsened the nation's sovereign debt crisis, Greek Prime Minister George Papandreou told CNBC Monday, in a candid discussion of the country's recent fiscal makeover.