Brussels, 05/01/2010 (Agence Europe) - Greece's effort to improve the situation of its finances should allow it to bring its budgetary deficit back below the 3% of GDP mark by end 2012. From 12.7% GDP in 2009, the Greek public deficit should be reduced by 4% in 2010 and by 3% during the next two years, the Greek finance minister said on Tuesday 5 January. “The prime minister has asked that adjustment be made at the beginning of the period and that deficit reduction take place over three years”, Georges Papaconstantinou told the press, cited by several press agencies. Given market defiance, the Greek authorities have therefore opted for budgetary consolidation to be intensified, and the minister had previously spoken of a timetable covering at least three or four years (EUROPE 10002). This period of improvement should now come within the updated version of Athens' stability programme to be forwarded to the Commission between now and end January. (A.B./transl.jl)