Greek PM says country not seeking more money

Written by on August 22, 2012 in Europe, News - No comments
Greek prime minister Antonis Samaras

Greek Prime Minister Antonis Samaras is seeking to reassure the country’s international creditors, saying Greece is not looking for any additional money to help its recession-plagued economy.

Mr. Samaras is hosting talks Wednesday with Eurogroup President Jean-Claude Juncker, and will travel for meetings later in the week with German Chancellor Angela Merkel and French President Francois Hollande.

The German newspaper Bild quoted the prime minister Wednesday as saying Greece wants more time to boost growth and increase its income. Mr. Samaras also said Greece stands by its commitments.

Greece’s creditors have demanded it impose significant austerity measures to cut its deficit in exchange for $295 billion in bailouts.

Greek leaders must still agree on $14 billion in cuts to secure the release of a new portion of the aid in September and avoid a default on its loans.

The country’s economy has been in recession for five years and the unemployment rate is more than 23 per cent.

Source: VOANews.com

(Greek prime minister Antonis Samaras. Photo: Council of the European Union)

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