May 25, 2011
Greece’s main opposition leader has refused to back new austerity measures designed to tackle the nation’s crippling debt crisis, arguing they would bring further recession.
European Union finance officials have argued that Greece, which is struggling to meet the terms of a $154 billion bailout and could require more help, needs all of its political parties to back the debt-cutting plans to ensure they can be implemented. They have not said outright that receiving the next installment of the bailout, due in June, depends on such agreement, but they have stressed the importance of opposition support.
Greece announced extra measures to shrink its budget deficit, including more than $8.4 billion worth this year and an immediate start to a previously announced privatization program. Measures this year range from raising taxes to cutting social security costs.
Antonis Samaras, head of the main opposition conservative party, earlier this month called for a renegotiation of the bailout deal. He argued the government’s overall direction in dealing with the crisis was wrong.
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