Greece: Government can’t reach agreement on a savings budget…

Wednesday, 29 August 2012 04:44

Greek coalition government has failed so far to reach agreement on a package of budget savings for the years 2013-14 – said on Wednesday after talks held on the subject Fotis Kuwelis.

Foreign lenders demand that Greece make significant cuts in public spending.

This is one of the basic conditions for continuation of financial assistance, coordinated by the so-called troika, consisting of the European Central Bank, the International Monetary Fund and the European Commission. Expected in early October Troika report is to summarize taken so far by the budget and reform Athens to assess whether they make sense to grant further loans.