June 26, 2011
Greece may be unable to implement the full range of budget cuts and privatisations needed to qualify for international aid, the country's deputy prime minister has admitted.
Theodoros Pangalos predicted that the Greek parliament may reject certain key reforms which are part of the government's €78bn (£69bn) austerity package, such as fiscal reforms and state asset sales.
"That's where we may have problems. I don't know whether some of our members of parliament will vote against it. It's possible," Pangalos told Spanish newspaper El Mundo.
Pangalos said he expected parliament to approve the unpopular austerity package, made up of €28bn spending cuts and €50bn of privatisations, this week – along with an enabling law to accelerate the pace of reform. Debate will begin on Monday, with a vote expected late tomorrow night.
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