Greece’s Prime Minister, Antonis Samaras, has called for more time to implement tough spending cuts and reforms, ahead of talks on its bailout.    Mr Samaras told German daily Bild that Greece needed “breathing space”.
He will meet Jean-Claude Juncker, the head of the Eurogroup of finance ministers later, and the French and German leaders later this week.
At issue is whether Greece has done enough to receive its next 31.5bn-euro (£24.7bn) bailout payment.  Failure to unlock the funds could lead to Greece defaulting on its vast public debt and possibly leaving the euro.
Mr Samaras is under pressure to show Greece can fulfil its commitment of 11.5bn euros in public spending cuts within two years in order to qualify for the money.
At the talks with Mr Juncker, he is expected to float the idea of Greece being given a two-year extension to the deadline.
via BBC
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015