Visitors Now:
Total Visits:
Total Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Greek PM Antonis Samaras ‘To Ask Angela Merkel and Francois Hollande for Austerity Plan Extension’

Wednesday, August 15, 2012 7:52
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Greek Prime Minister Antonis Samaras will call for an extension to his country’s austerity programme when he meets with Angela Merkel and Francois Hollande next week, according to reports.

[Ed. Note: Implementing an official 'kick the can' policy, rather than the repeated implied 'kick the can' policies we've gotten use to. This is progress.]

from Telegraph.co.uk

Mr Samaras will hold talks with the German chancellor and French president in Berlin and will suggest that public spending cuts be spread over four years instead of two, according to a document seen by the Financial Times.

Greece is currently scrambling to find budget cuts – amounting to around 5pc of GDP – to be implemented in 2013 and 2014 as part of its existing bailout deal with the European Union and International Monetary Fund.

Greece raised €4.063bn (£3.2bn) in a sale of three-month treasury bills on Tuesday, paying a modestly higher rate of 4.43pc, the public debt management agency said.

The extraordinarily large sale should help the Greek government avoid a cash crunch, according to a finance ministry source, as it faces redemption of a €3.2bn bond held by the ECB that expires on August 20 and awaits the next installment of its EU-IMF bailout package.

Continue Reading at Telegraph.co.uk…



Source:

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.