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Germany insists Greece abide by pledges
Source: Agencies |
September 5, 2012, Wednesday
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Print Edition
Print Edition
GERMANY'S finance minister yesterday renewed pressure on his Greek counterpart to fully implement Athens" pledges to its creditors ahead of a crucial debt inspectors" report, which is set to be presented in October.
Greek Finance Minister Yannis Stournaras informed Germany's Wolfgang Schaeuble at a meeting in Berlin about "Greece's progress in complying with the conditions" of its second bailout, Schaeuble's ministry said.
The new coalition government in Athens is drawing up new austerity measures worth some 11.5 billion euros (US$ 14.454 billion) in cutbacks in a bid to satisfy debt inspectors and creditors that it should continue to get aid.
Inspectors from the so-called troika - the European Union, IMF and European Central Bank - will review Greece's efforts this month. The next rescue loan installment of 31 billion euros hinges on a favorable report.
Schaeuble reminded Stournaras that "it is central for Greece to implement fully its commitments," his ministry said in a statement.
Greek Finance Minister Yannis Stournaras informed Germany's Wolfgang Schaeuble at a meeting in Berlin about "Greece's progress in complying with the conditions" of its second bailout, Schaeuble's ministry said.
The new coalition government in Athens is drawing up new austerity measures worth some 11.5 billion euros (US$ 14.454 billion) in cutbacks in a bid to satisfy debt inspectors and creditors that it should continue to get aid.
Inspectors from the so-called troika - the European Union, IMF and European Central Bank - will review Greece's efforts this month. The next rescue loan installment of 31 billion euros hinges on a favorable report.
Schaeuble reminded Stournaras that "it is central for Greece to implement fully its commitments," his ministry said in a statement.
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