Greece bailout: Merkel and Hollande in extension talks

The leaders of Germany and France are set to hold talks in Berlin on whether to give Greece more time to make the cuts required by its debt bailout.

German Chancellor Angela Merkel and French President Francois Hollande will also meet Greek Prime Minister Antonis Samaras later this week.

Eurozone chief Jean-Claude Juncker kept the door open for a change to the bailout terms after meeting Mr Samaras.

The economy of heavily-indebted Greece remains stuck in recession.

The country is currently trying to finalise a package of 11.5bn euros (£9.1bn: $14.4bn) of spending cuts over the next two years.

It is also being asked to put in place economic and structural reforms, including changes to the labour market and a renewed privatisation drive.

Read Full Article from BBC News

- Posted: 2012-08-23 11:49:24

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