Thursday, June 23, 2011

Greek Government In Talks Over Cuts

Wall Street Journal
June 23, 2011

Greece remains in talks with a delegation of European and international officials over some €5.5 billion ($7.9 billion) in measures needed to agree on a final five-year austerity program, the country's finance minister said Thursday.

But Evangelos Venizelos said at a news conference that the government remains fully committed to the €28 billion austerity package that the country has promised its international creditors in exchange for more aid.

"We have been discussing amounts of about €5.5 billion out of the total €28 billion medium-term package," Mr. Venizelos said. "We have to keep to the medium-term program because that is [a] precondition for everything else."

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