Greek coalition to renegotiate bailout

Antonis Samaras, the Greek Prime Minister
Greece’s coalition government has reaffirmed its commitment to renegotiating the country’s bailout agreement.

Prime Minister Antonis Samaras outlined an ambitious wish list of changes to the programme when he took power last month. But the government has struck a more conciliatory tone in recent days, as it faces the prospect of running out of money without more aid.

Speaking after a meeting with the country’s Finance Minister, coalition leaders said the government was determined to renegotiate, but they needed to buy more time.

Democratic left leader Fotis Kouvelis said: “Re-negotiation will take place, it is being pushed forward. It will be a tough, painful and complicated procedure but it must undoubtedly be pushed forward.

Article continues below...

“The country needs to live, society needs to stand on its feet, and the government is determined to proceed unwaveringly on this course.”

PASOK party leader Evangelos Venizelos said: “We must convince our allies that the recession is far deeper than predicted. We must therefore push on with fiscal adjustments but within a larger time frame, so they’re not so hard on citizens and development. This is exactly what was decided during the last EU summit.”- SAnews.gov.za