Mired in a fifth year of recession, Greece has been lobbying for two more years to hit budget targets promised under its second, €130 billion bailout from the European Union and International Monetary Fund.
On Tuesday, Juncker became the most senior European leader to visit Athens since a new conservative-led government took power in June promising to fulfil austerity pledges Greece made to receive a bailout, but to seek more time to reach the targets.
Prime Minister Antonis Samaras's plea for "air to breathe" has been met with hostility in the Netherlands and European paymaster Germany. Juncker said a decision to grant more time would depend on the findings of a review by EU and IMF lenders on the country's progress in fulfilling its pledges. He accompanied that with a warning to Greece to shore up its dire finances, saying the country's next tranche of aid would depend on it producing a credible strategy for austerity cuts.
Juncker's show of support for Greece's conservative-led government comes as a welcome boost for Samaras, who has begun a charm offensive to convince European leaders he has the will to ram through unpopular reforms and deserves more time to do it.
Full article
© Reuters
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article