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Greece admits veering from bailout obligations
Source: Reuters
Greece admits veering from bailout obligations
By Renee Maltezou and Harry Papachristou
ATHENS | Thu Jul 5, 2012 3:15pm EDT
(Reuters) - Greece conceded on Thursday it had slipped "in some respects" in implementing the cuts and reforms demanded by lenders in exchange for saving Athens from bankruptcy, and tried to persuade them to cut the country some slack.
Finance Minister Yannis Stournaras made the admission after meeting senior officials from Greece's "troika" of lenders from the EU, European Central Bank and International Monetary Fund, whose inspectors have begun picking through the country's books after weeks of political paralysis.
Trying to take advantage of a shift in Europe towards more growth-friendly policy measures, the government is pressing to soften the punishing terms of a bailout that is keeping Greece solvent but also driving it deeper into recession.
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By Renee Maltezou and Harry Papachristou
ATHENS | Thu Jul 5, 2012 3:15pm EDT
(Reuters) - Greece conceded on Thursday it had slipped "in some respects" in implementing the cuts and reforms demanded by lenders in exchange for saving Athens from bankruptcy, and tried to persuade them to cut the country some slack.
Finance Minister Yannis Stournaras made the admission after meeting senior officials from Greece's "troika" of lenders from the EU, European Central Bank and International Monetary Fund, whose inspectors have begun picking through the country's books after weeks of political paralysis.
Trying to take advantage of a shift in Europe towards more growth-friendly policy measures, the government is pressing to soften the punishing terms of a bailout that is keeping Greece solvent but also driving it deeper into recession.
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Read more: http://www.reuters.com/article/2012/07/05/us-greece-troika-idUSBRE86408Y20120705
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