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Samaras to call for more time to meet bailout conditions

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Samaras to call for more time to meet bailout conditions


Greece’s Prime Minister Antonis Samaras meets with the Eurogroup chief today when he’s expected to ask for more time to ram through unpopular reforms required by the last multi-euro bailout deal.

In an interview given to a German newspaper, Samaras said Greece did not need more money, but rather a breathing space to get the economy running before completing an 11.5 billion euro savings plan.

Earlier this week Germany’s Foreign Minister Guido Westerwelle told his Greek counterpart there was no possibility of a softening of Greece’s bailout conditions.
It is a message likely to be hammered home when the Greek leader later travels to Berlin and Paris.

Greece finds itself between a rock and a hard place. Harsh austerity measures are being fought against daily, now an additional two billion euros in savings must be found to offset lower tax revenues from the impact of cuts.

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