Greek leader says agreement reached on deal

Athens: Prime Minister George Papandreou says Greece has reached agreement with the IMF and European Union on a rescue package for the debt-laden country.

His government on Sunday is set to announce harsh spending cuts through 2012, as part of the loan agreement worth some $120 billion ($159 billion).

Papandreou said Sunday that Greek would be called upon to make "great sacrifices" to avoid catastrophe.

Eurozone finance ministers have scheduled an emergency meeting later Sunday and are expected to approve the EU's contribution.

Greek unions planning a general strike Wednesday against the new cuts.

Violent clashes broke out Sunday during anti-government protests at May 1 Labor Day rallies.