Greece Pleads for “More Time’ and ‘Air to Breathe’
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Greek Prime Minister Antonis Samaras as called on international lenders for “more time” and “breathing room” as it struggles to meet its bailout obligations. However, he insisted that Greece is not looking for additional bailout money.
His comments were published by Bild, Germany’s most-read newspaper, who had recently accused Greece of “making our euro kaput” and had only a few days ago referred to the country as a “bottomless pit.”
Greek Prime Minister Antonis Samaras as called on international lenders for “more time” and “breathing room” as it struggles to meet its bailout obligations. However, he insisted that Greece is not looking for additional bailout money.
His comments were published by Bild, Germany’s most-read newspaper, who had recently accused Greece of “making our euro kaput” and had only a few days ago referred to the country as a “bottomless pit.”
In its fifth year of recession, Greece has been lobbying for two more years to hit its budget targets promised under its second, 130 billion euros bailout from the European Union and International Monetary Fund.
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Pleading for “air to breathe”, Samaras, who heads the new conservative-led coalition government, said Greece needs more time to restart its economy, though it does not necessarily mean more bailout monies. He told Bild:
[quote] Let me be very clear: we are not asking for more money. We stand by our commitments and the implementation of all requirements. But we must encourage growth, because that reduces the financing gaps. All we want is a little air to breath to get the economy going and increase state income. More time does not automatically mean more money. [/quote]
However, his plea has been met with hostility and little sympathy from the region’s paymasters.
Following a meeting with Samaras yesterday, eurogroup chair Jean-Claude Juncker said Greece is suffering from a “credibility crisis” and has “one last chance” to stay in the eurozone, crushing hopes for an imminent change in strategy for Athens and the eurozone.
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Samaras can also expect little or no cause for optimism from his meeting with German Chancellor Angela Merkel and French President Francois Hollande, scheduled for Thursday.
According to a report by Reuters, Merkel and Hollande are expected to tell Samaras “that they can give him little leeway on easing the terms of his country’s bailout agreement.”
Merkel told reporters during a recent trip to Moldova:
[quote] I am going into these talks with the awareness that we have to achieve every partner sticks to his commitment. [/quote]
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