Press Esc to close
Sunday 01 March 2015
News updated at 8:31 PM IST
Weather
Max: 31.7°C
Min : 16.9°C
In Bengaluru
clear sky

Progress seen in Greek austerity talks

Athens, October 6, 2012, Reuters:

Greece will continue talks with international lenders next week on new austerity measures for the debt-ridden country to clinch its next loan tranche, the finance minister said on Saturday, with both sides saying progress had been made.

Negotiators had been pushing for a deal before a meeting of Euro Zone finance ministers on Monday, but Greece said it would settle for a statement acknowledging that talks were advancing.

"We will continue next week as well," Finance Minister Yannis Stournaras told reporters following talks in Athens with Greece's troika of creditors -- the European Union, European Central Bank and International Monetary Fund.

"We hope there will be a positive presentation from the troika, the IMF, EU and ECB, at the eurogroup," he said. "We're trying to reach a compromise that will be in the interests of the economy and the poor."

Five consecutive years of recession have driven unemployment to record levels, gutted household incomes and led to repeated bouts of protest and unrest on the streets of the Greek capital.

New protests are expected on Tuesday when German Chancellor Angela Merkel will make her first visit to Greece since the euro zone debt crisis erupted in late 2009.

The trip represents a show of support for the government of conservative Prime Minister Antonis Samaras and an apparent signal of the determination of Europe's most powerful leader to keep Greece within the euro.

Earlier on Saturday, a senior Greek government official said the sides will need another two weeks to agree on a pact on almost 12 billion euros of new savings to secure the next tranche of some 31.5 billion euros in urgently needed loans for the country.

Without it, Greece says it will run out of money at the end of November.


Go to Top

Photo Gallery
Cambodian artists presenting dance-drama at the International Ramayana Mela...

Cambodian artists presenting dance-drama at the International Ramayana Mela...

Cyclist at the Rajpath as the national capital received early morning showers in New Delhi...

Cyclist at the Rajpath as the national capital received early morning showers in New Delhi...

A waterlogged street after the early morning showers in the national capital...

A waterlogged street after the early morning showers in the national capital...

A train moves through snow covered railway track as the region received heavy snowfall in Anantnag..

A train moves through snow covered railway track as the region received heavy snowfall in Anantnag..

Artists dressed up as Hindu deities Lord Krishna and Radha play Holi...

Artists dressed up as Hindu deities Lord Krishna and Radha play Holi...

People throw coloured powder as they celebrate Lathmar Holi at Nandgaon...

People throw coloured powder as they celebrate Lathmar Holi at Nandgaon...

Prime Minister Narendra Modi with the new Chief Minister of Jammu and Kashmir Mufti Mohammad Syeed..

Prime Minister Narendra Modi with the new Chief Minister of Jammu and Kashmir Mufti Mohammad Syeed..

Sangakkara and Thirimanne celebrate beating England in their Cricket World Cup match in Wellington..

Sangakkara and Thirimanne celebrate beating England in their Cricket World Cup match in Wellington..

Sangakkara congratulates team mate Perera who celebrates talking the wicket of England's Morgan...

Sangakkara congratulates team mate Perera who celebrates talking the wicket of England's Morgan...

Pakistan players celebrate with wicket of Zimbabwe's Chamunorwa Chibhabha during the Pool B Cricket.

Pakistan players celebrate with wicket of Zimbabwe's Chamunorwa Chibhabha during the Pool B Cricket.

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523